In the Latin American context, the transition to renewable energies and decarbonization faces various challenges and opportunities (CEPAL, 2023). In this sense, developing countries face multiple difficulties in achieving energy transition in the short term. This article presents a study on the governmental, social, economic, and environmental determinants related to the transition in Latin America covering the period from 2010 to 2020. From this, the question arises: What are the determinants in governmental policies and territorial conditions that could affect energy transition in Latin America? To answer this, a multivariate and econometric analysis was conducted to identify possible determinants of the transition.
The results highlight Argentina, Brazil, and Chile as leaders in research, being pioneers in the implementation of energy efficiency laws. Additionally, Brazil, Mexico, Venezuela, Colombia, Argentina, and Chile led investments in new capacities generated by renewable energy sources. An association is observed between investment in Research, Development, and Innovation (R&D&I) and conditions such as carbon dioxide emissions, per capita income, and environmental innovation, thus driving the expansion and adoption of renewable energies in the region.
However, the analysis revealed notable disparities, especially in terms of governmental policies and territorial conditions, highlighting the need to address these gaps to achieve a more equitable and effective energy transition. In response to these challenges, initiatives are proposed to integrate and strengthen the exchange of new technologies, consolidating a collaborative approach to drive energy transition in Latin America towards a more sustainable future.
A significant practical implication of this proposal focuses on demonstrating how governments should design alternative energy policy aligned with the promotion of investment in R&D for the development and adoption of renewable technologies, thereby mitigating the effects of climate change. Likewise, it seeks to formulate implications and alternative energy policy options that allow understanding the relationship between the adoption of renewable energies under conditions of low and high R&D&I investment and its relation to emissions growth.
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