Martin Keller (Photo by Dennis Schroeder / NREL)
The U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) has launched an in-depth report on the potential for clear energy growth in Mexico. The Mexico Clean Energy Report concludes that, in mild of this potential and the low price of renewable energy technology, Mexico is ideally poised to change into a clear energy powerhouse. According to the report, fast progress in renewable energy deployment might allow Mexico to realize its 35% clear energy technology aim by 2024, generate excessive ranges of funding, improve energy entry, scale back prices to customers, and – along with different technical measures – enhance the reliability and resilience of Mexico’s power system.
“Mexico can be a clean energy powerhouse and a vital part of maintaining North America’s competitive edge around the world,” states Martin Keller, NREL Laboratory’s director. “Realizing this potential will require energy policies that facilitate private investment and support our joint efforts on clean energy, climate, and supply chains.”
Mexico’s massive and numerous renewable energy useful resource base might help important progress in clear technology capability. National technical potential contains 24,918 GW of solar photovoltaics, 3,669 GW of wind, 2.5 GW of typical geothermal, and 1.2 GW of further capability from current hydropower amenities – all mixed, sufficient to fulfill the nation’s electrical energy wants 100 instances over.
Even within the quick time period, with enough personal sector funding, Mexico might notice this potential rapidly, bringing on-line 15,257 MW of renewable energy. With this funding, the price of producing electrical energy could possibly be considerably lowered, saving the nationwide system $1.1 billion, in addition to producing $17 billion in new funding alternatives, creating over 72,000 jobs, and decreasing emissions of greenhouse gases and different pollution.
The findings on this research underscore that non-public sector funding is crucial for Mexico to realize its clear energy targets. The investments wanted to realize these features, nonetheless, would have a really low likelihood of occurring if modifications are made to Mexico’s present authorized, regulatory, and electrical energy market frameworks that may end in important obstacles to market entry.
The NREL report reinforces the crucial function that Mexico can play as a clear energy chief to propel North American competitiveness, a message that U.S. Secretary of Energy Jennifer M. Granholm expressed throughout her go to to Mexico in January 2022.
Read the entire NREL report right here.