Honduras to install 460 MW of PV in 2015 - GTM

Solar panels. Featured Image: Jackiso/Shutterstock.com

May 12 (SeeNews) - Honduras is projected to install 460 MW of photovoltaic (PV) systems in 2015 compared to just 5 MW in 2014 and thus occupy the second position in GTM Research’s Latin America rankings.

The country will leave behind Mexico, Guatemala and Brazil, according to GTM Research’s latest edition of the Latin America PV Playbook. Brazil will even drop out of the top five due to a surge in PV deployment in Panama, which is seen to add 62 MW in 2015.

At present, Honduras has 349 MW of utility-scale PV projects under construction as developers push to complete installations by July in order to qualify for a bonus tariff of USD 155.00 (EUR 138.00) per MWh. Only the first 300 MW to be hooked to the grid before the deadline would be entitled to receive the bonus tariff.

This year, the Central American nation will only be outrun by Chile, which is expected to double its annual PV installations to about 1 GW from 493 MW in 2014. However, Chile is not seen to keep the crown in the long term because by 2020 Mexico would have dealt with certain temporary issues and established itself as the solar leader in Latin America, GTM Research projects.

The following table shows the top five Latin America PV markets for 2014-2015, according to GTM Research.

Position 2014 2015
#1 Chile Chile
493 MW 1 GW
#2 Mexico Honduras
67 MW 460 MW
#3 Brazil Mexico
22 MW 195 MW
#4 Guatemala Guatemala
6 MW 98 MW
#5 Honduras Panama
5 MW 62 MW


Overall, Latin America is expected to deploy some 2.2 GW of PV in 2015, with 207 MW already installed in the first quarter of the year. The region’s total pipeline has now reached 34 GW, which includes 25 GW of already announced projects, 6.8 GW of contracted schemes and 1.9 GW under construction. About 943 MW of solar parks have already been switched on, according to the PV Playbook.

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