25 currently in the 2015 electricity generation system (Ram et al., 2017). Argentina has a great opportunity with a unique combination of solar and wind energy potential to capitalize on this huge economic opportunity. Newer systems also will have much smaller amounts of energy loss, with a 100% renewable energy system loss projected at 26% and the current system at 58% of primary energy input lost (Ram et al., 2017). Even though these systems would be a great improvement, they should be considered in the context of creating a reliable, resilient electrical grid that may have tradeoffs between creating the most affordable system as well as creating a system that does not have power shortages when there are shortages with different electricity generation types. Financing Renewable Goals A major challenge for Argentina will be financing new renewable projects. A variety of approaches need to be considered, among them, and possibly most promising, utilizing green bonds. This is an area where Argentina has lagged, but it has the potential to be a great source of foreign direct investment (FDI). Green bonds are issued specifically for green projects, either for mitigation of climate change or resilience to changes. Overall, Latin America has lagged behind the world in issuance of such bonds, with Argentina toward the bottom of Latin America in issuances. Argentina has issued $610M so far compared to $3.14B and $5.13B by Chile and Brazil, respectively (Climate Bonds Initiative, 2019). The province of La Rioja has been leading the country with two primary projects that Figure 1 Energy Costs by Source for Argentina in 2015 and 2030 Data source: Ram et al., 2018. 0 50 100 150 200 250 Nuclear, 2030 Nuclear, 2015 Gas–Open Cycle Gas Turbine, 2030 Gas–Open Cycle Gas Turbine, 2015 Gas with Carbon Capture, 2030 Gas with Carbon Capture, 2015 Gas, 2030 Gas, 2015 Solar Utility, 2030 Solar Utility, 2015 Solar Rooftop, 2030 Solar Rooftop, 2015 Wind Offshore, 2030 Wind Offshore, 2015 Wind Onshore, 2030 Wind Onshore, 2015 Levelized Cost of Energy (€/MWh) ▲ Most Likely Cost Excluding Externalities ● Most Likely Cost Including Externalities ■ Cost Range Excluding Externalities
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