Investment in renewable sources of energy in Latin America and the Caribbean grew by nearly 50 percent last year to $23 billion, according to a study released Monday by the Inter-American Development Bank and Bloomberg New Energy Finance.
Brazil accounted for $14 billion of that total, followed by Mexico and Chile with $2 billion each, the Climatescope report noted.
Wind power remained the main beneficiary of investment in renewables in the region, absorbing $15.5 billion in investments with major projects in Brazil, Mexico, Panama and Uruguay.
Investment in solar power reached a record $2.8 billion, led by Chile and Honduras.
By the end of 2014, Latin America and the Caribbean had 39 GW of installed capacity from renewables, equivalent to 11 percent of all generating capacity in the region.
Taking hydroelectric plants into account, 56 percent of the regional energy matrix is supplied by non-carbon sources of energy.