Current paper analyses opportunities and challenges of energy and low carbon development of Latin America. The results of the research have shown that to be competitive at the global market Latin America should find efficient solutions related to the providing equal access to energy services; achieving safety of supply of energy; achieving environmental sustainability. The analysis has been done on data of IndexMundi for the period, covering 1990-2012 (Renewable energy consumption by Latin America, the EU and the US, % of total final energy consumption) and 1960-2011 (CO2 emissions in Latin America, the EU and the US). More fresh data are unavailable. The transition to green economy in Latin America is mainly hindered by poor effectiveness of regulatory policies in the sphere of renewables and lack concrete and effective policies to deploy the wide range of investments required to implement projects related to renewables. Other barriers include the lack of economic resources; the failure of governments to prioritise development of renewable in favor of extending the penetration of fossil fuels; biased and incorrect beliefs about the economics of renewables; the lack of research and development; the low level of private sector involvement; and low effectiveness of collaboration among the public and private sectors and society. For improving energy efficiency and decreasing of CO2 emissions there have been proposed activities for expanding access to energy services in Latin America, measures of energy sector development, as well as obstacles and solutions to the development for energy policy in Latin America.

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