Forecast: Renewable Electricity in Chile

Renewable electricity production in Chile showed a fluctuating yet overall growing trend from 2013 to 2020, reaching its peak in 2020. The year-on-year variations highlight a notable increase of 20.24% in 2014 and significant annual growths of 4.53% in 2020. The Compound Annual Growth Rate (CAGR) over the past five years stayed positive, but had a slower pace, signalling a deceleration in growth rates moving forward.

From 2021 onward, we observe a downward trend with minor fluctuations; notable year-on-year decreases occurred in the past two years: -3.74% in 2021 and -0.41% in 2023. In 2023, Chile's renewable electricity production stood at 46.48 units.

The forecasted data from 2024 to 2028 indicate a slight continual decline, with the 5-year CAGR forecasted at -0.33%. This suggests a stabilization or minor reduction in production volumes in the near future.

Future trends to watch for in Chile's renewable electricity sector include advancements in renewable technology, government policies promoting clean energy, and shifts in global energy demands which could impact these projections.

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