A Renewable Energy PHD Was Elected President. Will Mexico's Photovoltaic Industry Have A Bright Future?

According to the Global Times, in the early morning of June 3rd local time, Claudia Sheinbaum, 61, announced her victory in the presidential election in the capital Mexico City and will become the first female president in Mexican history. She will officially take office on October 1st and will serve until 2030.

Mexico, as the second largest economy in Latin America, has a population of over 126 million. Despite its unique natural conditions, the development of Mexico's photovoltaic industry has been unusually slow. The election of Sheinbaum heralds a major change in Mexico's renewable energy policy.

As a senior scholar in the energy field, Sheinbaum holds an extremely positive attitude towards the promotion of renewable energy. She has repeatedly stressed: "We must accelerate the promotion of renewable energy." During the campaign, she proposed an ambitious new energy power investment plan, planning to invest 13.57 billion US dollars in the next ten years to vigorously develop the photovoltaic and wind power industries and modernize five hydropower stations, with a total installed capacity expected to reach 13.66GW.

Although Mexico has abundant solar energy resources, the development of the photovoltaic industry is relatively lagging. According to statistics from the National Renewable Energy Laboratory (NREL) of the United States, Mexico's theoretical photovoltaic development potential is as high as 24,918GW. However, as of December 2023, Mexico's cumulative photovoltaic installed capacity is only 3.3GW, and the annual installed capacity in 2023 is only 700MW.

With the coming to power of Sheinbaum and the policy shift, Mexico's renewable energy industries such as photovoltaics are expected to usher in new development opportunities.

Cowell are professional at pitched tile roof mounting structure, ground mounting structure and utility-scale solar farms. Welcome your inquiry if anything we could help.