This annual report provides analysis of power technology and generation cost trends and competitiveness in Latin America. It includes levelised cost of electricity (LCOE) data from 2020 to 2050 covering 10 key technologies: coal, gas combined cycle, gas peaker, onshore wind, offshore wind, solar PV, nuclear, geothermal, battery storage and solar hybrid. The report includes technology-level analysis for five countries in the region: Argentina, Brazil, Chile, Colombia and Mexico. It examines competition between renewable power, fossil fuel power, nuclear power and energy storage in each country and highlights critical inflection points in the cost trajectory. The detailed data and assumptions used in this report are available in its accompanying data file with an embedded interactive tool.