Ecuador Solar Energy Market
Average global module prices fell to USD 0.10 per W in 2024, allowing the national solar LCOE to drop toward USD 40 per MWh. At this level, PV undercuts new hydro peaking
During 2018, Ecuador has a solar install capacity of around 26 MW, with an electricity generation capacity of nearly 41GWh. Ecuador's renewable energy contributes nearly 0.7% of the total energy mix.
Moreover, Ecuador's demand for electricity is expected to have a demand of around 32 terra watt-hours (TWh) by 2025, and with its target to reduce the carbon emission by having an alternative source of energy, renewable sources are likely to grow during the period.
Ecuador is estimated to have CO 2 emissions per capita of around 3.3% average annual rate. And with this prevailing growth rate, it is estimated to reach around 7.2 metric tonnes of CO 2 emission by 2030.
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