With high insolation and a supportive regulatory body, Mexico is the most attractive near-term solar market in Latin America. GTM Research provides a deep dive into the region in a new quarterly subscription service announced today: the Latin America PV Playbook.

The Mexican solar market’s installed base will quadruple from 60 megawatts to 240 megawatts in 2014, driven by projects approved under the Small Power Producers Program, strong residential demand, and self-supply projects for commercial, industrial, and agricultural customers. The distributed segment has the largest total available market and is ripe for development through new business models like leasing and “community solar” arrangements.

“Mexico is poised to be the hotbed for solar deployment in Latin America,” said report author and global solar analyst Adam James. “There are a number of programs and policies in place that support solar development across market segments, and high insolation levels that ensure solar generates quick returns. We expect impressive year-over-year growth across the board.”

There are currently 219 megawatts of utility PV projects under construction across all states in Mexico, nearly half of which are in Baja California Sur. Future growth states include Yucatan and Sonora, which have announced a combined 280 megawatts of utility PV projects.

According to James, “The Latin American market as a whole represents a huge opportunity for PV. However, the complexities of local markets, financing and regulatory hurdles, and policy risk have all played a role in preventing solar development in the region from reaching its true potential.” He noted that companies that understand the risks and nuances of specific markets and have the tools to target discrete opportunities will be positioned competitively as the market continues to mature.

The Latin America PV Playbook is the most comprehensive analysis available of the Latin American solar market. The annual subscription includes a 50-slide Latin America Solar Essentials report, 70-slide quarterly market updates, and an ongoing project database complete with developers, suppliers, timelines and costs. Markets covered include Mexico, Chile, Brazil, Peru, Central America, and the rest of South America. For more information, visit http://www.greentechmedia.com/research/report/latin-america-pv-playbook.