From Watts to Wealth: Does Power Infrastructure Unlock Economic Value?
Panama's GDP surged 500%, but its electricity demand grew only 116%—far less than Ecuador's 210%.
Since the start of this new century (which we're already almost 1/4 through!), Latin America's overall GDP tripled. As economies grow, one inevitable consequence is electricity demand. Our chart explores the correlation between each country's economy and its need for electricity.
It's interesting to look at the contrasts. Panama, known for its strategic canal, like Ecuador, had a staggering 500% GDP growth. But Panama grew only by 116% in electricity demand—far less than Ecuador's 210%.
Similarly, tourism hot spots like Costa Rica and the Dominican Republic had modest growth in electricity demand compared to their economies. One can only wonder how much of this is due to energy efficiency or a lack of infrastructure that demands electricity. Still, Costa Rica is known for protecting its environment and has prioritized green energy like few countries worldwide.
Each country has a unique trajectory of economic and energy development. Behind each country on the plot, there's a story on how growth has translated into homes with electricity access, energy efficiency, and industrial development.