In an era defined by pressing environmental concerns and the imperative for sustainable practices, governments and companies are proactively seeking solutions to carry out the energy transition process in their countries. This pivotal shift from traditional fossil fuel-based energy sources to a more diversified and sustainable landscape is shaping the future of how we generate, transport, and consume electricity. In this article, we ascertain the most economic paths for 18 countries in Latin America and the Caribbean to attain their specific goals associated with the energy transition, as well as the required investments and resultant costs. These goals are translated into emission reduction targets for the power sector and are tailored to align with the individual objectives defined by each country. We do so by conducting fundamentalist least-cost long-term expansion plans, quantifying the investments and, therefore, the economic efforts required to meet those goals by 2050.
To accomplish this, we explicitly constrain the emissions from the power sector, by increasingly limiting generation from technologies that emit greenhouse gases. Without such explicit restrictions, these generators, driven solely by economic considerations, might keep contributing to meet the power system demand during the evaluated period (2024 until 2050). This persistence could impede the achievement of objectives associated with the energy transition (such as emission reductions). The analyses presented in this paper are designed to facilitate the computation of costs associated with an energy policy aimed at reducing greenhouse emissions in the power sector, referred to as the "green premium" within the context of generation expansion plans.
Presentation will be carried out in english.
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