RENEWABLE ENERGY SOURCES AND THE PROBLEM OF MODERNIZING INSTITUTIONAL INSTRUMENTS IN LATIN AMERICA

Abstract

The article examines the problem of unequal access to energy resources in Latin America in the context of the unique structure of the industry. The authors note that despite the obvious importance of hydrocarbons for the economic life of the region, the indicators of renewable energy, especially in terms of electrification, are clearly higher than the global ones. However, the study emphasizes that the development of RES complex is ahead the formation of a strong institutional framework for regulating the issue. The authors pay special attention to the states’ tools building to further streamline the industry, since the usage of both political and economic mechanisms that can become a unique chance for Latin America to create a sustainable energy matrix and eliminate the problem of uneven supply to the region. However, the institutional initiative faces a dilemma: to focus on the development of renewable sources, creating an ecological and ethical energy system, or to stimulate economic development, relying on hydrocarbon feedstock.