Favorable Policies and Legislations Drive Renewable Energy Market in South America

South American Renewable Energy Markets to 2020 – Favorable Policies and Regulations to Drive Growth in The Region
 
 This report provides key data, information and analysis on the market opportunities in the South American renewable energy market. The report provides a detailed assessment of installed capacity and growth opportunities arising from South American renewable energy market. At the outset, the report analyses the renewable energy market top five countries of the South American region. The report’s coverage of the South American renewable energy market is comprehensive with dedicated sections on regulatory framework, and the key market drivers and restraints in top 5 countries of the region. ( http://www.bharatbook.com/detail.asp?id=135397&rt=South-American-Renewable-Energy-Markets-to-2020-Favorable-Policies-and-Regulations-to-Drive-Growth-in-The-Region.html )
 
 Favorable Policies and Legislations Drive Renewable Energy Market in South America
 Currently, government policies and renewable energy legislation play a vital role in the development of renewable energy sources. Countries in the South American region are aware of this and have enacted favorable policies to encourage investment in non-conventional energy sources such as wind, solar and biomass. Of the top 5 countries discussed in this report, Argentina, Brazil, Chile and Colombia have formulated legislation to promote renewable energy development. Argentina and Chile have set Renewable Portfolio Standards (RPS) type of targets for the implementation of renewable energy sources. In addition to this, a number of governments also provide indirect subsidies and tax credits to promote renewable energy. These policies and support will help South American countries to achieve rapid growth in renewable energy, as the existing programs and legislations bring significant installed capacity to the market.
 
 Financial Support by International Banks will Aid Renewable Energy Growth in the region
 According to the Economic Commission for Latin America and the Caribbean (ECLAC), countries in the Latin American and Caribbean region would require an investment of $572 billion in the electricity sector between 2007 and 2030 to meet the energy demand. According to the United Nations Framework for Climate Change (UNFCC), more than 85% of the energy investment in this region will come from the private sector.
 
 International Banks including the Inter-American Development Bank (IDB) are financing various power generation projects in this region. Since 2000, the IDB has financed more than $2.1 billion in renewable energy projects in the region, including hydro, wind and geothermal projects. The focus is to develop sustainable energy for the longer term through renewable energy sources. The banks also provide financial support for technical assistance programs for sustainable energy and energy efficiency.
 
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