The study states that the country could grow its renewables share from 4.4 per cent in 2010 to 21 per c ent by 2030.
IRENA found that Mexico could generate up to 46 per cent of its electricity by 2030 from renewable sources including wind, solar, hydropower, geothermal and biomass – a six fold increase from today’s levels.
IRENA Director-General Adnan Z. Amin said: “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.”
“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.”
Dolf Gielen, director of IRENA’s Innovation and Technology Centre, said: “This report shows that Mexico could install significantly higher amounts of renewables – and that it can do so affordably.”.
“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.”