A recent Bloomberg analysis highlights Mexico’s “Clean Energy Revolution”. The analysis of Mexico’s electricity sector finds that total energy demand will rise 72% over the next 25 years, from 305,000 GWh in 2015 to 512,000 GWh in 2040, while installed capacity will triple, to around 247 GW.
Fossil fuels are currently the source of 78% of the electricity generated in Mexico, but renewable energy (including hydro-power) will account for 69% by 2040.
According to Bloomberg, the costs of producing wind and solar energy will become fully competitive with electricity from natural gas power stations by 2025.
The report concludes that the renewable energy sector in Mexico represents an enormous investment opportunity, worth up to $186 billion between now and 2040.
The federal government is increasing its investments in research and development of renewable energy sources each year, up to $310 million in 2020, to build more “energy innovation centers” (Cemies). The five existing Cemies focus on geothermal, solar, wind, bioenergy and ocean energy respectively. Two new Cemies will investigate the use of intelligent networks and carbon capture alternatives.
- The geography of renewable energy from wind power in Mexico
- Build-it-yourself wind and solar power for rural Oaxaca
- Aviation history as Mexico’s Aeroméxico uses biofuel for transatlantic passenger flight
- Appropriate technology project supplies solar-powered stoves
- Latin America’s biggest solar energy plant helps power La Paz (Mar 2014)
- Mexico has the world’s highest level of energy security among large economies (Apr 2013)