Numerous public policies are being implemented to reach the Mexican government’s renewable energy goals. The Energy Transition Law is one example. It proposes that 35% to 40% of Mexico's electricity be generated from renewable sources by 2024. This study is being developed by the DUGE TIS Mexico initiative. This study is designed to assess the technoeconomical potential of four different energy technologies in a hypothetical Mexico of 2050.
Mexico has many renewable energy options, including solar, wind, biomass, and hydropower. Mexico is situated on the global Solar Belt and its natural gas reserves are the fourth largest in the world. Mexico has large areas of land that are ripe for sunshine and strong winds. It is important that you recognize that Mexico's wind resources tend to be more concentrated in the regions than in the United States, making wind energy less effective than solar.
Mexico's electricity consumption has been growing at 3% per year on average for the past 13 years. The country's electricity consumption has increased, and renewable energy has been an important source of growth. In 2017, the country's energy sector supplied 330 TWh electricity, with 15% from renewable sources. In the past, 4000 MN of permits were issued by the Energy Regulatory Commission.
Mexico's power sector is the second largest polluting sector after transportation. It is vital to reduce greenhouse gases emissions by 22% by 2030. It is vital to provide reliable electricity access to the 3.5,000,000 people who live in remote regions.
The country has ambitious energy goals. These goals should be flexible enough to adjust to possible setbacks. It is important to note that Mexico is a member of the G8 + 5 (G8) and the World Trade Organization (WTO). It is also a signatory of the Paris Climate Change Agreement. To fulfill its green commitments, it must give priority to domestic investors and companies within the country.
The energy laws that have been in existence for more than two decades show the Mexican government’s commitment in renewable energy. These laws have allowed Mexico rank fourth in the global rankings for renewable energy. Mexico is also a member in good standing of the International Renewable Energy Agency. In 2011/2012 the IRENA Statue were ratified and ratified at the Ministry of Energy. The Mexican National Energy Strategy was born as a result. This Statue was ratified. It created a more comprehensive institutional energy framework, which favored the development and financing of renewable energy projects, as well as the promulgation and enforcement of laws and agreements.
Mexico could become a major energy source through its renewable energy. This is particularly true in the future, as the country is expected to grow to 155 million inhabitants by 2050. In order to meet this goal, Mexico must provide reliable electricity access to those living in remote areas.