Even in an early stage of technology adoption, countries in Latin America and the Caribbean are gradually increasing the number of electric cars on the streets. In 2020, there were 10,766 electric cars, supported by a network of 1,292 public charging stations. The trend is expected to continue towards cleaner transportation.
The transportation sector is the largest source of energy-related emissions in Latin America. The region's car fleet is responsible for around 37% of these emissions, while the rest corresponds to trucks and public transportation. Many cities have dangerous levels of air pollution.
Nevertheless, the region has a critical opportunity to electrify its transportation sector, according to experts. Latin America has one of the cleanest electric grids in the world, with 60% of installed capacity coming from renewable energy, surpassing the global average. It also has the fastest-growing car fleet in the world, expected to reach 200 million by 2050.
Electric mobility policy is already advancing rapidly in Latin America. Numerous countries offer incentives for electric vehicles, such as exemptions or discounts on sales, environmental and import taxes.
However, many obstacles still exist. Initial costs are high for developing countries, charging infrastructure is insufficient, and most public subsidies still go to fossil fuels. Overcoming these obstacles will require developing electric mobility strategies and reducing costs, according to experts.
Barbados is a leader in electric cars in the Caribbean, with around 430 in circulation in 2018. The government has taken some policy measures aimed at their expansion. These include a significant reduction in import duties and an assessment of transitioning away from relying on fuel tax revenues.
Barbados relies almost entirely on oil imports for both energy generation and transportation, but in 2023, the government aimed to achieve a 49% reduction in fossil fuel consumption across the country, resulting in energy savings of between 200 and 400 million dollars, according to its National Energy Policy 2019-2030.
The government also aims to achieve 100% dependence on renewable energy and carbon neutrality by 2030. As part of this plan, it intends to deploy a fully electric government and bus fleet by 2030.
