Latin America’s energy storage market set to hit 23 GW by 2034
Image: Wood Mackenzie
From ESS News
Wood Mackenzie forecasts a compound annual growth rate (CAGR) of 8% in the Latin American energy storage market through 2034, reaching a cumulative capacity of 23 GW.
In its new report titled Latin America Energy Storage Outlook 2025, the research and consultancy firm finds that Chile leads the region with the largest installed storage capacity, thanks to its advanced regulatory policies, accounting for nearly half of the total regional capacity.
Following Chile are Mexico and the Dominican Republic, although Mexico faces regulatory challenges while the Dominican Republic exhibits accelerated growth.