When it comes to renewable energy development, Latin America is a mixed bag with a lot of potentials. Sandra Guzman provides an overview over what is holding the region back as well as its prospects. One of the key aspects increasing inequality in Latin America is the limited access to energy. According to the United Nations Industrial Development Organization, 40 million people in Latin America live without access to electricity. Paradoxically, there is no shortage of supply, which shows that the problem is predominately the distribution of energy. An additional problem is that power generation is based overwhelmingly on fossil fuels, which implies high cost for non-oil producing countries in Latin America. In this sense, the region needs an alternative source of energy that, at the same time, can help to increase overall energy access. In 2013, the Inter-American Development Bank (IADB) showed that Latin America has a great potential to develop renewable energy. According to their research, Latin America could produce enough electricity to cover 22 times the demand of the region by 2050. … Continue reading Renewable energy in Latin America: What is holding us back?