Electricity Generation in Latin America and the Caribbean Rose 5.5% in 2024

The region advances in its energy transition, reaching 69% renewability, led by hydropower and solar energy.

The Latin American and Caribbean Energy Organization (OLACDE) presents its New Electricity Generation Report for Latin America and the Caribbean (LAC), offering a detailed analysis of the behavior of the electricity system in the region. The report includes data on electricity generation, the share of different energy sources, as well as year-on-year, monthly, and seasonal comparisons.

In this edition, in addition to the data for December 2024, a comprehensive analysis of electricity generation throughout the entire year is included.

During 2024, Latin America and the Caribbean recorded a 5.5% increase in electricity generation, driven mainly by the expansion of wind and solar photovoltaic plants, and by a greater share of natural gas in the regional electricity mix.

Breakdown of electricity generation by source in 2024:

  • Hydropower: 45%
  • Natural gas: 25%
  • Wind: 12%
  • Solar: 7%
  • Bioenergy: 4%
  • Coal: 2%
  • Nuclear: 2%
  • Oil derivatives: 2%
  • Geothermal: 1%

Thanks to this diversification, the renewability index —which measures the share of electricity generated from renewable sources— reached a notable 69%.

On a monthly basis, seasonal patterns are evident:

  • August 2023: generation peak of 151 TWh
  • May 2024: annual maximum generation peak with 159 TWh
  • December 2024: 149 TWh, representing a year-on-year increase of 1.3% compared to the same month in 2023.

 

In December 2024, hydropower led with a 46% share and total renewable generation reached 109 TWh. The report highlights that around ten countries in the region exceeded 75% renewability, while significant decreases were observed in the use of non-renewable sources:

  • Oil derivatives: -62%
  • Coal: -49%

 

This progress reaffirms the region’s commitment to sustainability and energy security, positioning Latin America and the Caribbean as a global benchmark in the transition toward a cleaner and more resilient electricity system.

Download the report at the following link: https://www.OLACDE.org/publicaciones/reporte-de-generacion-electrica-en-america-latina-y-el-caribe/

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Electricity Generation in Latin America and the Caribbean Rose 5.5% in 2024

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The region advances in its energy transition, reaching 69% renewability, led by hydropower and solar energy. The Latin American and Caribbean Energy Organization (OLACDE) presents its New Electricity Generation Report for Latin America and the Caribbean (LAC), offering a detailed analysis of the behavior of the electricity system in the region. The report includes data […]

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