Industry analysts have long forecasted a spiked growth in Mexico’s solar energy sector, but now experts are predicting 2018 as the “take-off year”. The energy transition has been ongoing for several years as Mexico implemented policy reforms, but with solar winning big at the past two auctions the grid will be taking on over 4 GW of solar in the coming years. While Mexico isn’t a global leader in solar, or even a regional leader, this is set to change soon.
“Purely from a pipeline standpoint, Mexico has the greatest potential. You could even look two years down the line and Mexico will be the leader in Latin America for sure,” concluded Green Tech Media’s Manan Parikh.
The International Energy Agency (IEA) forecast Mexico to hit between 30-40GW of solar PV installations by 2040 under various scenarios.