Gerard Wynn, Energy and Carbon
Uruguay is nearing the world leader in wind and solar power by market share, Denmark, showing how the right grid conditions can help renewable sweep aside fossil fuel energy.
At the Institute of Energy Economics and Financial Analysis (IEEFA), we reported earlier this yearthat Uruguay was probably the world’s fastest growing variable renewables market, with wind and solar power reaching 32% of total generation in 2017, compared with 1% in 2013.
The small Latin American country is now nearing the market share of world leader Denmark.
In Uruguay, wind and solar exceeded 40% of total generation in seven of the first eight months of 2018. Denmark reached a corresponding value in six of the first eight months.
While Denmark has higher peaks of variable renewables market share, each summer, it also has deeper troughs during periods of higher electricity demand in winter (see Fig 1 below).