Mexico's solar power potential

▶ Energy prices in Mexico have been historically very high compared to those of developed nations.  By some estimates, electricity costs in Mexico for commercial and non-subsidized residential users are 25 percent higher than in the U.S., while Mexican industrial users pay electricity prices that are almost 85 percent higher than those paid in the U.S.

▶ The combination of high energy prices and the decrease in the cost of new solar systems has allowed Mexico to become one of the few countries to have reached grid parity in the renewable energy market.  This, coupled with some of the highest insolation levels in the world is turning Mexico into one of the most attractive markets for renewable power generation and the first sizeable market in which the development of renewable projects is not dependent on special feed-in tariffs, tax credits or other subsidies.  

▶ Mexico’s solar sector have experienced triple-digit growth rates over the last 10 years, outpacing the growth of renewable power generation in most developed countries.
However, the real opportunity for renewables lies ahead, as the country will require an additional 22 gigawatts of power generation in the next ten years and its government is set on transforming the country’s power mix in order to reach the goal of generating 35 percent of total electricity from clean sources by 2025.