April 7, 2022 – The U.S. Division of Vitality’s Nationwide Renewable Vitality Laboratory (NREL) launched an in-depth report on the potential for clear power improvement in Mexico. Mexico is replete with photo voltaic and wind sources and has remaining untapped potential in geothermal and hydropower. NREL’s Mexico Clear Vitality Report concludes that, in gentle of this potential and the low price of renewable power era, Mexico is ideally poised to turn into a clear power powerhouse. In keeping with the report, fast progress in renewable power deployment may allow Mexico to realize their 35% clear power era objective by 2024, generate excessive ranges of funding, improve power entry, cut back prices to customers, and—along with different technical measures—enhance the reliability and resilience of Mexico’s energy system.
“Mexico is usually a clear power powerhouse,” mentioned NREL Laboratory Director Martin Keller, “and a significant a part of sustaining North America’s aggressive edge world wide. Realizing this potential would require power insurance policies that facilitate non-public funding and assist our joint efforts on clear power, local weather, and provide chains.”
Among the many key findings of the report:
- Mexico’s massive and various renewable power useful resource base may assist vital progress in clear era capability. Nationwide technical potential consists of 24,918 GW of photo voltaic photovoltaics, 3,669 GW of wind, 2.5 GW of standard geothermal, and 1.2 GW of extra capability from present hydropower services – all mixed, sufficient to satisfy the nation’s electrical energy wants 100 instances over.
- Even within the brief time period, with adequate non-public sector funding, Mexico may understand this potential rapidly, bringing on-line 15,257 MW of renewable power. With this funding, the price of producing electrical energy might be considerably decreased, saving the nationwide system US$1.1 billion, in addition to producing US$17 billion in new funding alternatives, creating over 72,000 jobs, and lowering emissions of greenhouse gases and different pollution.
The findings on this examine underscore that personal sector funding is important for Mexico to realize its clear power targets. The investments wanted to realize these beneficial properties, nevertheless, would have a really low chance of occurring if modifications are made to Mexico’s present authorized, regulatory, and electrical energy market frameworks that might end in vital obstacles to market entry.
The NREL report reinforces the important function that Mexico can play as a clear power chief to propel North American competitiveness, a message that U.S. Secretary of Vitality Jennifer M. Granholm expressed throughout her go to to Mexico in January 2022.
Learn the entire NREL report on Mexico’s Clear Vitality Potential at https://www.nrel.gov/docs/fy22osti/82580.pdf
NREL is the U.S. Division of Vitality’s main nationwide laboratory for renewable power and power effectivity analysis and improvement. NREL is operated for the Vitality Division by the Alliance for Sustainable Vitality, LLC.