Growing Solar Market in Mexico

Advantage of Mexico

Mexico has always been a world-famous low-latitude country (long light hours, high light intensity, and vast land). This also gives Mexico an inherent advantage in developing solar energy.

There are several factors that get solar professionals excited about the Mexican PV market. More than two-thirds of the country has more than 4.5 sun hours per day. And one of the largest states, Jalisco, has 5.2 hours, and 20% of its energy generation comes from diesel generation. In this country of 120 million people, energy consumption is only going to increase; by 2025, GDP is projected to grow at an annual rate of 3.5%(1) and electricity demand at an annual rate of 4.3%.

Solar developers and installers point to a lack of consumer awareness. Skilled installers and financing tools are also short as three other challenges in Mexico. This also makes the development space of solar energy products very large. Profits are relatively substantial, and competition is relatively moderate.

When talking about green energy in Mexico, it is common for a private consumer to wonder what is the benefit of installing solar panels in their home if they pay more than 2,500 pesos bimonthly for light.

The fact is that those users with a high consumption of electricity have the ability to reduce their energy costs by up to 97% if they take advantage of solar energy in Mexico with the installation of solar panels.

Environmental Change

To contribute to environmental change it is necessary to start taking seriously the widespread implementation of solar energy in Mexico in order to reduce the high levels of national and global pollution. The electricity grid provided by CFE is very polluting, so take advantage of alternative energy sources as a solution to achieve environmental balance.

Today it is possible to finance solar energy. With TrueWay Factory Suppliers, the technological innovation of these systems has made it possible to reduce the price of equipment.

It is forecast that in 2024 solar energy in Mexico will be able to cover 35% of the country’s electricity demand.

The growth of PV energy consumption in Mexico has been so exponential, once it has received government support. It is expected that in just seven years (2024) it can cover 35% of the demand for traditional electricity.