Argentina lost World Cup but is clear leader in Latin America nuclear and clean energy

As Iran boosts oil prices, clean energy costs are becoming more competitive

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The Embalse Power Station is one of three operational nuclear power plants in Argentina. Photo: Wikimedia.

(Michael Molinski is a senior economist at Trendline Economics. He’s worked for Fidelity, Charles Schwab and Wells Fargo, and previously as a foreign correspondent and editor for Bloomberg News and MarketWatch.)

BUENOS AIRES (Callaway Climate Insights) — Argentina came in second place to Spain in the World Cup, but it has a growing economy, leads Latin America in nuclear energy and has an increasing clean energy sector which is benefiting from the conflict in the Middle East.

As President Donald Trump’s policies have cut U.S. tax incentives on clean energy, and the Iran War led to a sharp rise in fossil fuels costs worldwide, Latin America has been free to expand investments in clean energy. Indeed, rising fossil fuel prices have strengthened the economic competitiveness of renewable energy, while renewable power generation costs in Latin America and the Caribbean have fallen sharply over the past decade.

While Argentina may seem to be an unlikely candidate as a nuclear power, the fact is Argentina leads Latin America in nuclear capability, with three commercial nuclear reactors supplying 7% of the country’s electricity needs.