Latin America Solar Market Grew 370% in 2014

New figures released by GTM Research show that the Latin America solar PV market grew by 370% in 2014, installing a total of 625 MW.

Latin America comprises Mexico, Central America, South America, and the Caribbean, a number of regions that have each been making big inroads in renewable energy generation.

The regional Latin America leader was Chile, making up more than three-quarters of the Latin America total.  As an example, in the fourth quarter of 2014 alone, Chile installed double the amount of Latin America’s annual solar PV total in 2013.

Mexico and Brazil filled out the top three spots, second and third (respectively).

The Latin America region has regularly been touted as one of the new hot-spots for renewable energy growth — especially solar.

Figures provided by NPD Solarbuzz back in September projected 9 GW of solar PV to be installed over the next five years in Latin America and the Caribbean.

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