What is the price of energy storage vehicles in Chile

The vehicle fleet has increased significantly in recent times. Chile has 8,454 electric vehicles on the streets – data as of the end of 2023 – representing an increase of 72.64 per cent compared to the previous year. Chart showing the sales growth in March.

For example, according to data from the monthly report of the National Automotive Association of Chile (ANAC), there was a record sale of electric vehicles in March. A total of 325 units were sold, compared to 87 in February and 53 in January. The recovery was also reflected in the category of plug-in hybrid vehicles, with 103 units sold.

In fact, batteries charged at nearly $0/MWh during the day in the sunny, northern desert regions of Chile, sell energy at night for over $100/MWh. Although projects such as Engie's BESS Coya are already enjoying these large spreads, this capacity payment will partially de-risk Chile's dependence on volatile, but still profitable, merchant revenues.

New utility-scale renewable and PMGE assets in Chile (most of which are distributed solar plants smaller than 9 MW) will likely all have storage components moving forward.

With transmission lines at overcapacity and permitting delays slowing the development of new grid infrastructure, battery energy storage systems (BESS) have surged as a profitable alternative for Chilean power producers.

Chile has pursued an aggressive strategy to boost electromobility in the country. A review of the strengths and recent growth in the electric vehicle fleet and chargers. Chile has become a benchmark for electromobility in the region. The numbers speak for themselves and place the Latin American country in a privileged position.