Argentina currently has 15 GW of installed renewable energy capacity. In order to meet its international carbon neutrality, commitment under Paris Agreement, the country would have to increase its capacity exponentially, to around 240 GW, according to the UNICEN study.
However, the costs of employing renewables to electrify the network, are 21 percent lower than in the BAU scenario. In real terms, that would be a saving of US$508 billion.
“The greatest savings are made by no longer consuming fossil fuels, both for final demand and for electricity generation”, the report reads. “The biggest costs occur in areas such as infrastructure, due to the need of new power transmission lines or the installation of electric vehicle chargers. The large incorporation of electricity generation from renewable sources also generates higher costs. But, by 2050, the (renewables-based) alternative scenario is the least costly”