Solar power has come a long way in Mexico, with 6,160 MW of cumulative utility-scale solar capacity at the end of 2021. However, the country’s battery storage facilities are still limited, meaning that power generation is not optimized. 

More efficient LED lights, better solar panels, and battery technology all contribute to longer run times. Longer run times do far more than just reduce costs. They also expand potential applications. In remote areas, where conventional grid sources are either expensive or not available, increased run times are crucial. 

Solar-powered LED lights and the Internet of Things (IoT) are two different ways to cut expenses and improve energy efficiency. Furthermore, the synergies achieved by combining these two technologies creates far more benefits than either one of them alone.

The Mexico City Government has big plans to develop the solar footprint of one of the world’s largest cities, introducing the Solar City (Ciudad Solar) initiative in 2019. 

Mexico’s wind energy capacity has rapidly increased over the last decade, putting it in a good position to become a regional leader in wind power. 

Mexico lends itself to renewable energy development thanks to its favorable geographical conditions. The country enjoys around 300 days of sunlight each year, and with over 9,000 km of coastline, there is significant potential for growth across other renewable energy forms. 

The state of Sonora in northern Mexico has been identified by the National Autonomous University of Mexico as having the greatest solar potential in the country. If just 1% of Sonora’s land was used for solar projects it could provide enough energy to power all of Mexico.

Recently, a climate advocacy NGO called the Mexican Climate Initiative (ICM) developed a solar bond program to use a percentage of the money from the electric subsidy program to invest in solar energy projects. The funds are used to purchase solar photovoltaic (PV) modules to be installed on the rooftops of residential houses, particularly in heavily subsidized areas.

In recent years, Mexico has experienced an increase in the number of energy providers, making the market more competitive than before. While many industrial consumers stick to companies they know because of their well-established reputation, regularly surveying the market to see what deals are available may be prudent.

The market is favorable for solar energy projects thanks to low equipment costs, strong renewable energy policies, and several national solar power programs. Solar panels in Mexico cost an average of $3.07 per watt, and we expect this to decrease further as the development of solar becomes more commonplace.