Mexico has emerged as a top market for solar in Latin America. In the wake of the country's energy market reform, solar projects are more competitive than ever. Developers are scrambling to get in on the action.
In advance of Solar Summit Mexico next month, we're giving you a sneak peek at GTM Research's latest Latin America PV Playbook, the industry's most in-depth analysis of the budding South American, Central American and Caribbean solar markets.
- By 2022, Latin America will account for 11 percent of the global PV demand (up from 3 percent in 2017)
- GTM Research forecasts the Mexican market to have close to 16 gigawatts of cumulative PV installed capacity by 2022, with an upside of close to 20 gigawatts
- Mexico retains the lowest forecast system costs out to 2022, due to 50 percent lower soft costs relative to other major markets
- Of all DG markets in Latin America, Mexico has the highest upside out to 2022, with residential system costs at $1.27 per watt-DC
- Total addressable market for distributed generation in Mexico is around 4.5 million unsubsidized retail customers
- Through five auction rounds in Q4 2017, the major markets of Mexico, Chile, Argentina and Brazil added a total of over 3.4 gigawatts-DC of projects to their pipelines
At Solar Summit Mexico 2018, we'll dive deep into this analysis and much more. Come join us to learn more about this dynamic market, including where demand is headed, how projects are getting built and financed, and what's behind those record-low prices.
Before ticket prices increase in a few weeks, register today.