To be aligned with 1.5°C pathways, Chile’s power sector will need to be fully decarbonised by 2030-2038 with renewables representing an 87-99% share of power generation by 2030, compared to roughly 44% in 2017.
While Chile has set a goal of phasing out coal by 2040, decarbonising Chile’s power sector will need to be driven by a coal phase out in the current decade and a gas phase out by 2031-2035. This stands in contrast with the country considering an increase of its share of natural gas.3
Decommissioning its fossil fuel-based power plants will reduce Chile’s dependency on fossil fuel imports, avoid the risk of stranded assets and provide opportunities for more renewable technologies, which are already cheaper than fossil fuels.
Key power sector benchmarks
Renewables shares and year of zero emissions power Including the use of BECCS
- 2030 87 to 99% Renewable share
- 2030-2038 Zero emissions power
- 2034 95 to 100% Renewable share
- 2035 60 % Renewable share
- 2040 Coal phase-out
- 2050 70 % Renewable share