Renewable energy and Mexico – an emerging market with promise
While California, Spain, and even New Jersey saw widespread and rapid installation of solar energy systems in a short period of time, this was largely motivated by policy change instead of pure economic gain. Conversely, Mexico is among a growing list of countries where the cost of solar energy produced may be lower than the cost of energy available from their current base of generation. While the long term benefits of renewable energy are often overlooked by the opportunistic market. Countries in this situation may experience an organic boom in the number of solar power systems installed due to these pure costs to cost energy price opportunities. It is important in this dynamic global market to be diligent to new markets and opportunities. Hence, in this chapter we present an analysis of the Mexican energy market including its history and its high potential due to its solar resource and proximity to the U.S. market. It is just one of several countries in the world that may be at a tipping point. Any could be “the next big market”. Further, the manner of study shown here for this market is relevant for any market investigation and we suggest the reader conduct similar studies periodically to discover other diamonds in the rough.