According to the World Energy Council, batteries for energy storage could reach 250GW in capacity worldwide by 2030. To date, Latin America is only a very small fraction of this, but the time seems ripe for those in the business to turn their eyes to the region.
One thing is almost unanimous: the potential is enormous. The expected growth of renewable energy sources in Mexico, the large number of PV solar plants operating in Chile, and Brazil's extensive energy transmission system are just a few examples of markets with diversified opportunities for energy storage projects.
According to Carlos Augusto Brandão, president of Brazil's energy storage association Abaque, falling prices help, with "estimates pointing to falling prices for batteries in the order of 38-50% for the most common applications in the next 5 years."
According to a recent study, Colombia's potential for storage is 480MW in the next ten years. Mexico could see 2.3GW and Brazil 5.6GW in capacity in the same timeframe. This report will look into the state of battery and storage options in the region.
Though there are numerous technologies and storage options, this report looks at the potential for electric batteries in commerical power projects in Latin America.