Societal benefits from renewable energy in Latin America and the Caribbean

This analysis quantifies societal benefits of employing renewables in Latin America and the Caribbean in terms of avoided costs (climate change avoided costs, avoided pollution control costs, avoided energy security costs) and economic benefits (improvements in the balance of payments and job creation). Results of the analysis indicate that societal benefits are large enough to compensate the cost disadvantage of solar and wind energy against fossil alternatives, justifying the eventual wholesale entry of these options.