Solar Power Could be Answer to Mexico Oil Problems Holly Whitman - El Daily Post
go to original May 14, 2016

With financial crises bogging down one huge sector of the energy economy, it appears a good time for solar power to take off in Mexico.

While not as huge as the oil industry, the solar energy industry is already beginning to show it can generate huge sums of money in Mexico in its own right.

Earlier this year, Mexico concluded its first long-term power auction since deregulating the electricity industry in 2013. When all was said and done, energy companies spent $2.1 billion dollars on contracts to produce 1,720 megawatts (MW) of power, with 74 percent of those bids won by solar developers.

Mexico is hoping to add 20 gigawatts of clean energy over the next 15 years, which would of course generate billions more in investment.

Solar is clearly a growth industry in Mexico, with room for even more growth. The country is already surpassing expectations – in April GTM Research revised its forecast for solar capacity growth in the country from 267 percent to 521 percent.

Read the whole article at El Daily Post

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