How much does the South American energy storage photovoltaic project cost

In South America, regulation on the connection of small-scale photovoltaic systems is recent, given that this type of generation has been integrated into the energy matrix for a few years.

As a result, the preliminary energy balance for 2019 showed favorable results, showing that the share of fossil fuels is only 2%, being the smallest percentage in the region and the share of PV solar energy reaches 3%, being the second-largest participation in South America after Chile .

Brazil is the leader in solar energy in South America as it surpassed 50 GW of installed capacity in 2024. South America continued its steady solar growth over the last half-decade in particular, and overall renewable energy capacity additions in general, through the year 2024.

The year 2024 carried the momentum from previous years, which made the solar sector bloom on the continent, setting a positive growth trend through at least the next decade. In its May 2024 report, BMI estimated that solar energy generation's market share across Latin America will increase from 6 percent in 2024 to 10 percent by 2033.

5. Discussion South America has privileged solar irradiation, with emphasis on the northeast region of Brazil and especially the Atacama Desert region, in northern Chile. Regarding the energy matrices of each country, listed in Table 4, a large percentage of renewable energies is observed in the analyzed countries.

In Latin America, Chile leads the photovoltaic plant scenario with BESS. According to Ref., in 2019 there were three plants in operation with a total installed capacity of 52 MW and a storage capacity of 13 MWh in Anfogasta. Also, Chile presented a pilot project in Arica with a storage capacity of 2 MWh in a container.