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Solar energy in Latin America: an opportunity to transform the energy future

The Latin America and Caribbean region is experiencing growth in the solar energy sector. Last year, the region reached an estimated installed capacity of 16.6 GW, and it is projected that this figure will reach 32 GW by 2034, representing an annual growth rate of 7.6%. This progress is a response to the need for greater energy independence, reduced technological costs, and the region’s commitment to decarbonization.

Brazil and Chile are spearheading this energy transformation, accounting for 78% of the region’s solar installations. Central America and the Caribbean are also experiencing significant growth, making advances in rural electrification and energy storage. Some countries, such as the Dominican Republic, have established legal frameworks to increase consumption of renewable energy sources in the coming years.

At IDOM, we are committed to developing a sustainable energy ecosystem. That’s why our Competitiveness and Innovation team is operating the SolarX Startup Challenge 2025 for Latin America and the Caribbean. Promoted by the International Solar Alliance (ISA), this initiative seeks to identify and accelerate startups offering innovative, high-impact solar solutions for the region.

The call, which aims to strengthen the solar energy ecosystem in the region, was launched on May 20. It is open to startups that are less than 10 years old and have a minimum viable product (MVP) that aligns with one of the ten priority challenges defined for the region.

Our extensive experience in science, technology, and innovation ecosystems has enabled us at IDOM to lead this project. We implement programs that strengthen startups, public institutions, and private companies, focusing on facilitating access to strategic networks and international growth opportunities. Our goal is to foster the development of these entities and their innovative solutions, thereby contributing to energy transformation and the transition to cleaner sources.

Learn more about the SolarX Startup Challenge 2025 and how to participate: https://solarx.isa.int/registration_lac

 

July 8, 2025

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