Chile did not offer subsidies,
. . . or incentives for renewable energy.
Rather, it amended the law to enable wind and solar PV technology,
. . . to compete in annual auctions for electricity capacity.
. . . Then it let the market get to work.
Over 4 years from 2013,
. . . the auction price for a megawatt hour (MWhr) of electricity fell from
. . . $130.00 to just
. . . . $32.50.
This extraordinary collapse in costs, was driven by 2 factors:
. . . . . . Wind, and Solar's (dramatic fall in cost) and
. . . . . . Gas, and Coal’s (inability to price match).
The fall in costs of generation,
. . . coupled with the increased reliability and efficiency of the technology, means that
. . . Wind, and Solar are now the low-cost option for electricity companies, and
. . . regulators the world over.
Chile will make an excellent host for 2019 UN Climate Change Conference.
. . . It has shown how a country can transition from fossil fuels,
. . . while maintaining economic growth, and
. . . reducing the cost of energy.
. . . There can be few better jumping off points for this year.
1-23-2019 Source: Chile: allows #Energy "Free Market to work"
#Chile: allows #Energy "Free Market to work"
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