Mexico’s Solar Energy Investment and Capacity Doubles

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According to solar and wind systems producer, Conermex, Mexico will reach a total of 12 MW of electricity generated by solar energy by the end of 2012, doubling its current potential.

Mexico currently has 6 MW of solar energy capacity installed, but with a growth spurt in investments and new projects, Mexico will reach 12 MW of solar-powered electricity by the end of the year.

From 2010 to 2011, investments in photovoltaic panel installations have increased by 150%, from $20 to $50 million dollars.

“Mexico is amongst the top five countries with the greatest extension of territory with solar irradiation,” said Carlos Flores, CEO of Conermex. “The nation receives approximately 400 TW of solar radiation a year.”

Mexico’s National Solar Energy Association (ANES) has publicly announced that Mexico has the potential to generate all of its electricity from solar energy. However, Flores believes that investments in the solar sector are still lagging and more work needs to be done in the areas of energy storage, as well as large scale solar projects.

Photo credit to: Conermex