Requirements for energy storage exports to latin america

What are the opportunities for battery energy storage systems in Latin America?

The opportunities for battery energy storage systems (BESS) are growing rapidly in Latin America. Below are some key details for those who want to understand and succeed in the BESS market.

Why is energy storage important in Latin America and the Caribbean?

It will also be a key enabler of mass decarbonization and climate change mitigation, facilitating the expansion of variable renewable energy sources such as wind and solar while ensuring grid security. However, energy storage deployment in Latin America and the Caribbean (LAC) is still nascent.

How much does energy storage cost in Mexico?

In Mexico, General Electric has announced five energy storage projects to be developed, with a projected capital cost of around US$5 million each. These energy storage projects will be used to facilitate the incorporation of solar and wind projects into the electric grid.

When will Peru's study on energy storage begin?

In January 2024, Peru’s energy and mining investment regulator, Osinergmin, opened a request for a proposal for a study on energy storage. Peru has no existing BESS regulation and is currently evaluating how to move forward with battery storage projects.

Is pumped hydro the future of energy storage in Latin America?

Pumped hydro is the most widespread form of energy storage worldwide, but despite the abundance of hydroelectric power in use in Latin America, this technology has not been deployed in most of the region. Argentina is an exception, home to two pumped hydro storage facilities with combined capacity of almost 1 GW since the 1980s.

How much battery capacity will Latin America have by 2023?

By the end of 2023, Latin America is expected to have less than 1 GWh of operational BESS projects. In comparison, the U.S. was expected to have nearly 60 GWh of installed battery capacity, a 60x difference. This large gap will be bridged at different speeds based on each country’s specific regulations.