<aside> 💡 “Latin America and the Caribbean will be the first region to achieve universal electricity access,” @IDB
Both countries are different in LATAM in terms of their electricity mix, commitments, and nationalization of infrastructure, making for a diverse landscape of needs and go to market approaches to accelerate and support a green transition. For example, Costa Rica made commitments that their energy grid will be entirely electric by 2050. Meanwhile, Mexico has just passed legislation to limit the demand that fossil fuel alternatives can meet. Nonetheless, demand for electricity in the region is expected to double by 2050, according to the Inter-American Development Bank. To comply with this rising demand, Latin America’s energy supply and access will need to undergo significant transformation to meet the goals of the Paris Climate Agreement and create a more sustainable future.
Fortunately, the emergence of industrial grade cost saving solutions such as AI-powered demand monitoring, policy programs that can be modeled after existing success cases globally, and the rapidly shifting public sentiment towards clean energy have fundamentally changed the outlook of even the most conservative petrol economies.
Three current trends driving climate innovation stand out in Latin America’s energy sector: