Development of Energy Storage in the Power System – Case Study of Chile
Latin America is experiencing an unprecedented phase of expansion in its energy transition. In this context, Chile has solidified its position as the regional benchmark, emerging as one of the world's most dynamic and rapidly growing energy storage markets. This growth stems from deep integration of renewable energy sources, increased renewable energy generation capacity, and ambitious decarbonization targets (Net Zero by 2050). Countries like Brazil and Colombia have adopted auction mechanisms to facilitate the deployment of energy storage systems. Currently, grid-side energy storage in the region has evolved from "project-specific solutions" to "large-scale commercial deployment." There is growing demand for long-duration storage solutions (6 hours) and advanced grid-forming technologies to ensure system reliability.
