The Future is shining bright for Mexico’s renewable energy and green technology industry. Solar is the fastest growing power generation source. An abundance of solar resources, high power prices, falling technology costs, and an increasing need for resource diversification combine to place Mexico among the global leaders for solar development.
The growing number of solar installations is also stimulating the energy storage market. Intersolar and THE GREEN EXPO® are joining hands to offer the industry the ideal renewable energy and Green Technology platform in Mexico.
Market analysts are bullish about Latin America’s solar market development. Spearheaded by several key markets such as Mexico, Chile, Brazil and Argentina, opportunities for solar PV are being pushed by clean energy certificates, competitive auctions, corporate procurement and increased utilization of distributed generation.
Currently, the region has collectively installed over 7 GW of solar PV. With an additional 46 GW expected to be developed by the end of 2022 Latin America will account for over 10% of global solar demand by 2022.
Mexico’s solar market is on the rise
Mexico is one of the epicenters when it comes to solar deployment and dynamic growth potentials. The federal government passed the General Climate Change Law, aiming to have 35% of energy come from renewables by 2024, and 50% by 2050.
Fittingly Mexico’s solar resources are among the best in the world, with annual daily solar irradiance levels ranging between 4.4 kWh/m2 and 6.3 kWh/m2. In mid-2018, the Ministry of Energy launched its 2018 edition of the National Electricity System Development Program (PRODESEN 2018-2032). The program is used to showcase the country’s energy demand for the upcoming 15 years and predicts a 11,906 Million USD investment in solar energy.
The Mexico Secretariat of Energy expects 11.6 GW of cumulative solar power and 58.5 GW of clean energy to be reached by 2032. That ranks Mexico 5th for expected new solar capacity by 2021, with 10,000 MW capacity (an 84% growth). Clean energy certificates, which apply to power providers and industrial consumers, will increase from 7.4% in 2020 to 10.9% in 2021 and 13.9% in 2022.
Energy Storage gains importance
The growing number of solar installations is also stimulating the energy storage market. One of the current global trends is the growth in large-scale projects combining solar power and storage in power plants. Business is also booming in the area of smaller storage systems for domestic and commercial applications.
For Central and South America analysts predict that more than 1.4GW of energy storage will be installed by 2025 to ensure security of supply to around six million households, as well as industrial and commercial applications.
Intersolar and THE GREEN EXPO® join forces
Intersolar and GREEN EXPO® are combining forces to offer the industry the ideal renewable energy and green technology platform in Mexico. The event will happen September 3-5, 2019 in Mexico City and will help find business contacts and partnerships that matter. The organizers expect approximately 250 exhibiting companies from 12 countries and more than 13000 international visitors. More information can be found at www.thegreenexpo.com.mx and www.intersolar.mx.
“We are enthusiastic about our partnership with THE GREEN EXPO®. Together, we will offer the industry the best in class renewable energy and green technology platform in Mexico,” stresses Dr. Florian Wessendorf, managing director of Solar Promotion International GmbH and Daniel Strowitzki, CEO of Freiburg Management and Marketing International GmbH (FMMI) jointly.
THE GREEN EXPO® now in its 27th edition is excited to begin working with Intersolar to further strengthen the event for the Mexican and Central American markets. As Mexico´s leading event in renewables and green technology, working with Intersolar is a perfect fit for the market says Paul St. Amour, VP, Tarsus Mexico.