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Researchers at Lappeenranta University of Technology (LUT) assert that South America can transition to a fully renewable electricity system by 2030. The study, conducted in partnership with VTT Technical Research Centre of Finland, indicates that this system would be the most cost-effective electricity production option, costing between 47 to 62 euros per megawatt hour, significantly less than alternatives like nuclear and carbon capture technologies.

The proposed system would utilize 415 GW of solar photovoltaics, 144 GW of hydro dams, 39 GW of hydro run-of-river, 17 GW of biogas, 4 GW of biomass, and 69 GW of wind power. The integration of power-to-gas technology could further reduce the need for energy storage and lower costs by up to 13 billion euros. The research highlights South America's unique renewable resources, positioning it favorably for a complete transition to renewable energy.