The study states that the country could grow its renewables share from 4.4 per cent in 2010 to 21 per cent 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.”