You are currently viewing Latin America Solar Energy Storage Market to Estimate Substantial Growth with the Expected Increase in Innovation and Demand During 2023-2028

Latin America Solar Energy Storage Market to Estimate Substantial Growth with the Expected Increase in Innovation and Demand During 2023-2028

El nuevo estudio de Informes de Expertos titulado ‘Mercado de Almacenamiento de Energía Solar en América Latina, Informe y Pronóstico 2023-2028′, ofrece una amplia revisión de los factores que reflejan positivamente el panorama del mercado y explora los factores en términos de material de almacenamiento, tecnología, aplicación, uso final, y las regiones clave. El informe también estudia las restricciones y los retos del mercado, basándose en los modelos de las cinco fuerzas de Porter, junto con un análisis FODA. Asimismo, se evalúa el mercado en sobre la base de las tendencias pasadas y futuras y su influencia posterior en el algoritmo. El estudio incluye una investigación exhaustiva, que abarca indicadores de precios y agentes del mercado, ilustrando las repercusiones en la dinámica y las perspectivas del mercado.

The new report by Informes de Expertos titled, ‘Latin America Solar Energy Storage Market 2023-2028’ , provides a broad review of the factors that reflect positively on the market landscape and explores the factors in terms of storage material, technology, application, end-use, and key regions. The report also examines market constraints and challenges, based on Porter’s five forces models, along with a SWOT analysis. Furthermore, the market is assessed on the basis of past and future trends and their subsequent influence on the algorithm. The study includes extensive research, covering price indicators and market players, illustrating the impact on market dynamics and prospects.

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Los aspectos más destacados del informe son:

Visión General del Mercado (2018-2028)

• CAGR del Periodo de Pronóstico (2023-2028): 7,20%

El mercado de almacenamiento de energía solar en América Latina está impulsado por varios factores, como las políticas y los incentivos gubernamentales. Los gobiernos latinoamericanos han puesto en marcha diversas políticas e incentivos para promover la adopción de energías renovables, en particular la energía solar. Además, los elevados precios de la electricidad en muchos países latinoamericanos han hecho que el almacenamiento de energía solar sea más viable económicamente, ya que puede ayudar a reducir los costes energéticos de hogares y empresas.

El acceso a la financiación es cada vez más importante para apoyar el crecimiento del mercado de almacenamiento de energía solar en América Latina. Los bancos, las instituciones de desarrollo y los inversores están cada vez más interesados en proporcionar financiación para proyectos de almacenamiento de energía solar, lo que está facilitando a las empresas la instalación de estos sistemas. Por ejemplo, en 2022, el mercado alcanzo a un valor de USD 1,84 mil millones.

El aumento de la población y el crecimiento económico en muchos países de América Latina está impulsando la demanda de energía, y el almacenamiento de energía solar se ve como una forma de satisfacer esta demanda de manera sostenible. Las mejoras en la tecnología de almacenamiento de energía solar, como el desarrollo de nuevas químicas de baterías, han aumentado la eficiencia y reducido el coste de los sistemas de almacenamiento de energía solar. El cambio climático y sus impactos han aumentado la urgencia de cambiar a fuentes de energía limpias para reducir las emisiones de gases de efecto invernadero. Los países latinoamericanos buscan en el almacenamiento de energía solar una forma de reducir su huella de carbono. Estos factores están contribuyendo al crecimiento del mercado de almacenamiento de energía solar en América Latina y se espera que sigan impulsando el mercado en los próximos años.

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Industry Definition and Major Segments

Solar energy storage refers to the process of capturing and storing energy generated by solar panels for later use. This can be done through a variety of methods, including battery storage, pumped hydroelectric storage, thermal storage, and compressed air storage.

By storage material, the industry is widely categorised into:

• Water
• Molten Salt
• PCM
• Others

Based on technology, the industry is segmented into:

• Sensible Heat
• Latent Heat
• Thermochemical
• Others

Some of the major applications in the market include:

• Power Generation
• District Heating and Cooling
• Process Heating and Cooling

On the basis of end-uses, the industry is classified into:

• Residential and Commercial
• Industrial
• Utility

Key regions covered include:

• Brazil
• Argentina
• Mexico
• Others

Market Trends

Some of the current trends in the solar energy storage market in Latin America involve growing distributed solar energy storage and increasing use of lithium-ion batteries. Distributed solar energy storage systems, such as rooftop solar panels with battery storage, are becoming extremely prevalent in Latin America. These systems allow households and businesses to generate and store their own electricity, thereby reducing their dependence on the grid. Due to their high energy density, long lifespan and low maintenance requirements, lithium-ion batteries are becoming the favoured technology for solar energy storage in Latin America.

In addition, virtual power plants (VPPs) are becoming increasingly popular in Latin America with the aim of managing and optimising the production of distributed solar energy storage systems. Hybrid systems that integrate solar energy storage with other forms of renewable energy, such as wind or hydropower, are also becoming increasingly sought after in Latin America. These systems can provide a potentially more reliable and stable source of energy, especially in remote or off-grid areas. Energy storage regulations and standards are being developed in Latin American countries to ensure the safe, reliable and efficient operation of these systems. This development is expected to further increase the growth of the market.

Key Market Players

The major players in the market are:

• The AES Corporation
• Acumuladores Moura SA
• Intersolar South America
• Innovacion Solar
• Mexico Energy Partners LLC.
• BYD Motors Inc.
• Others

This report covers their profiles and provides information on expansions, investments and mergers and acquisitions, among other latest industry developments.

About Us:

Informes de Expertos, the Spanish variant of Expert Market Research, is a platform that offers market research and consultancy services to a broad clientele base across Spanish speaking countries. With our primary focus on the Latin America and Spain markets, our research experts provide relevant and actionable insights into the markets and track major trends, economic developments, and global trade data.

Determined to bring client satisfaction, we make sure that our tailored approach meets the client’s unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.

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Expert Market Research

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally. At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.