Is solar energy a good investment in Mexico?

Solar resources in Mexico are among the best in the world, with annual daily solar irradiance levels ranging between 4.4 kWh/m2 and 6.3 kWh/m2. With the country's solar capacity reaching 10GW at the end of 2021, we expect solar energy to continue to present attractive opportunities for project developers and industrial consumers.

How much do solar panels cost in Mexico?

Solar panels in Mexico cost an average of $3.07 per watt, and we expect this to decrease further as the development of solar projects becomes more commonplace. The Government of Mexico (GoM) has also helped to support the development of solar generation across the country, taking advantage of Mexico’s average of 300 days of sunshine a year.

Does Mexico have a solar energy sector?

Mexico is also supporting its solar operations with the development of several solar energy plants that include lithium-ion battery storage facilities. However, the sector still faces some restrictions such as a lack of land for solar operations.

Is Mexico a good place to install solar panels?

Mexico is well suited for residential rooftop solar installations, and we expect the market to grow by roughly 10% to 15% annually through 2025. With the high cost of electricity, many are being encouraged to convert their systems to solar. This can also help tackle the uncertainty of blackouts in regions that have a higher risk of power outages.

Does Mexico need solar power?

The solar irradiance levels and the continued focus on corporate sustainability will also continue to support strong demand for solar power in Mexico. Contact us to learn more about accessing low-cost solar power in Mexico. Savings from on-site solar can range between 20% and 40% with no upfront costs. Contact us today.

What is the cheapest energy source in Mexico?

Today, renewables are the cheapest source of power. The cost of installing and generating your own energy in Mexico has declined significantly, we have reached a point where it is cheaper to locally generate electricity using solar photovoltaic technology rather than buy it from the CFE.