There are several public policies that aim to achieve 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. The DUGE TIS Mexico initiative aims to help develop these components. 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 located on the worldwide Solar Belt. Its natural resources of natural gas are the fourth largest. Mexico has large areas of land that are ripe for sunshine and strong winds. But, it's important to remember that Mexico has a large land area with abundant sunshine and strong winds. Wind energy is therefore less efficient in Mexico than solar energy.
Mexico's electricity consumption has grown at an average rate of 3% per annum over the last 13 years. Because of this, Mexico's electricity demand has grown and renewable energy has been a major source to the country's growth. The country's power sector met 330 TWh of its electricity demand in 2017, with 15% coming from renewable resources. The Energy Regulatory Commission awarded 4000 MN in permits in the past.
Mexico's power sector is the second largest polluting sector after transportation. It is essential that greenhouse gas emissions are reduced by 22% prior to 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 must be capable of adapting to future setbacks. It is important that Mexico is a part of both the G8 + 5 and the World Trade Organization. It is also a signatory to the Paris Climate Change Agreement. To fulfill its green commitments, it must give priority to domestic investors and companies within the country.
The Mexican government's commitment to renewable energy is reflected in the energy laws that have been in place for the past two decades. These laws have enabled Mexico to rank fourth globally in terms of renewable energy. Mexico is also a participant in the International Renewable Energy Agency. The IRENA Statue has been ratified by the Ministry of Energy in 2011/2012. This resulted in Mexico's National Energy strategy. 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's renewable energy has the potential to be a major source for energy. This is particularly true in the future, as the country is expected to grow to 155 million inhabitants by 2050. Mexico must be able to provide reliable electricity access for people living in remote areas.