Chile Energy Storage Industry Holds Promise | EMIS
In 2022, Chile passed an energy storage and electromobility bill, which made stand-alone storage projects profitable, but the market is still expecting new rules on capacity
In 2022, Chile passed an energy storage and electromobility bill, which made stand-alone storage projects profitable, but the market is still expecting new rules on capacity payment for storage projects, which are to be approved in 2024. Chile has also put in place an auction procedure to award public land for the development of BESS projects.
According to a December 2023 publication on the InvestChile website, the country had 23 approved energy storage projects with a total of 3,000 MW of capacity. Chile is exploring a variety of solutions to keep abreast of the changing energy demand landscape ranging from BESS to innovative projects using CO2.
Andes Solar IV, one of the largest solar farms in Chile. The rapid growth of renewable energy is among the factors making batteries a necessity. An early grid battery was installed in the Atacama Desert in Chile 15 years ago. Now, as prices have tumbled, they are increasingly being used around the world.
Over the last decade, batteries have helped Chile use less coal. Last December, the country got more than 40 percent of its electricity from solar panels and wind turbines, up from 19 percent five years earlier, according to Ember Energy Research, a nonprofit.
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