The European Union decided to take Latin America seriously because it needs the region to help Europe solve its “urgent” energy needs in the wake of Russia’s illegal attack and war of aggression against Ukraine.
The EU and the Community of Latin American and Caribbean States (CELAC, its Spanish-language initials) met in Brussels in late July for the first time in eight years, in part because Russia’s warfare against Ukraine has has upended Europe’s energy markets, and Europe now is looking to Latin America, which offers
new energy opportunities that aren’t fossil fuel imports from Russia, putting Latin America in a rare position to negotiate one-on-one with the EU, a long-standing ambition of the region.
In short, Latin America is becoming a clean energy powerhouse.
Today, almost 30% of its energy comes from renewables, double the world average. In Central America, that figure is 80%. With the right tools and incentives, in due time the region could lead the globe in exporting clean energy.
Standout countries in the region include Costa Rica, which produces 99% of its electricity from renewables, and Brazil, with the world’s 10th largest economy, where renewable energy accounts for 83% of its electricity-generation matrix.
The United States is the Western Hemisphere’s slacker with only 14% of its electricity drawn from renewables. Elsewhere in North America, Mexico produces about 30% of its electricity from renewables, the average for Latin America, while Canada is the continent’s success story, with renewable energy accounting for 70% of its electricity-generation mix.
Considering the era of “global boiling” has commenced, right now would be a good time to get those renewable numbers up, electrify the transportation sector, and make buildings more energy-efficient.