Mexico can more than quadruple share of renewable energy by 2030
Mexico can increase the use of renewable energy in its energy mix from 4.4%to 21% by 2030, according to a report released by the International Renewable Energy Agency (IRENA).
'Renewable Energy Prospects: Mexico', prepared in collaboration with the Mexican Energy Secretariat (SENER), also found that Mexico could generate up to 46% of its electricity by 2030 from renewable sources such as biomass, as well as wind, solar, hydropower and geothermal. This is a six fold increase from today's levels.
'Mexico represents one-fifth of all energy use in the Latin America and Caribbean region and is key to ensuring a successful regional transition to renewable energy,' explains Adnan Amin, director general of IRENA. 'With the recent energy sector reform, Mexico is now on the path of rapid renewables growth, which can help secure a safer, healthier and more sustainable future.'
The share of renewable energy in Mexico's energy mix will only reach 10% by 2030 under current policies. If Mexico is to succeed in reaching a 21% share of renewable energy, it will save $1.6 billion (€1.5 billion) in total energy system costs by 2030. Annual savings could reach as high as $11.6 billion by 2030 when taking into account factors like reduced health costs and pollution.
'This report shows that Mexico could install significantly higher amounts of renewables – and that it can do so affordably,' says Dolf Gielen, director of IRENA's Innovation and Technology Centre. 'The dramatic technology cost declines present a real opportunity for Mexico to scale up their renewable energy deployment and lead the region towards a clean energy future.'
The report is part of IRENA's renewable energy roadmap, REmap 2030, which provides a plan to double the share of renewable energy in the world's energy mix by 2030 and determines the potential for Mexico and other countries to scale up renewable energy in the energy system, including power, industry, buildings, and the transport sector.