Venezuela Solar Energy Market – Size, Share,
The Venezuela Solar Energy Market is poised for growth and presents significant opportunities for stakeholders. With abundant solar resources,
Energy Transition: The global trend towards clean and sustainable energy sources will influence the energy transition in Venezuela. Solar energy will play a vital role in reducing greenhouse gas emissions, meeting renewable energy targets, and diversifying the energy mix.
According to the latest statistics published by the International Renewable Energy Agency, Venezuela had around 5.32 MW of installed solar PV power generation capacity in 2019. In 2019, the Venezuelan government announced a plan to build its first utility-scale PV project to strengthen its National Electric System.
It aims to develop the use of renewables within isolated rural communities includes solar. The future development of the solar energy sector in Venezuela with the growth of energy consumption and substitution of fossil fuels by renewable energy potential is likely to promote the solar energy market in Venezuela.
Solar energy is one of the fastest-growing forms of energy in power generation that is expected to show a gradual increase in the energy mix of Venezuela. This tendency is maintained by the significant decrease in the cost of renewables with the support of investments and new technologies.
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