Several public policies are aimed at achieving the Mexican government's renewable energy goals. This includes the Energy Transition Law, which suggests that 35% of Mexico's electricity can be generated from clean energy sources by 2024. The DUGE TIS Mexico initiative aims to help develop these components. This study will evaluate the techno-economical capabilities of four energy technologies in a hypothetical Mexican context in 2050.
Mexico is home to a wide range of renewable energy sources including wind, solar, biomass and hydropower. Mexico's natural gas reserves, which are the fourth-largest in the world, is located in the global Solar Belt. Mexico boasts a vast land area that is blessed with sunshine and strong winds. However, it is important to recognize that wind resources in Mexico are regionally concentrated, making wind energy less efficient than solar energy.
Mexico's electricity consumption grew at 3% an average per year over the past 13-years. In Mexico, the electricity demand has increased. Renewable energy has also been a major source of growth. The country's power sector met 330 TWh of its electricity demand in 2017, with 15% coming from renewable resources. In the past, 4000 million N was granted in permits by Energy Regulatory Commission.
Mexico's power industry is the second most polluting sector after transportation. It is essential that greenhouse gas emissions are reduced by 22% prior to 2030. It is important that reliable electricity access be provided to the 3.5 millions people who live in remote areas.
The country's energy targets are ambitious. These goals must be capable of adapting to future setbacks. Important to remember that Mexico is a member both of the G8 +5 (G8), and the World Trade Organization. It is also a signatory of the Paris Climate Change Agreement. It must make sure that foreign investors are not overlooked in order to meet its green commitments.
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 helped Mexico rank fourth worldwide in renewable energy. Mexico is also a member of the International Renewable Energy Agency (IRENA). The Ministry of Energy ratified the IRENA Statue in 2011/2012. 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's renewable energy has the potential to be a major source for energy. This is especially true for the future as Mexico is projected to have 155 million people by 2050. Mexico must ensure reliable electricity access for those who live in remote areas to achieve this goal.