A report released by the International Renewable Energy Agency (IREA) lists untapped potential for Mexico’s renewable-energy sector, noting that the country could boost its usage of renewable energy from 4.4% in 2010 to 21% by 2030.

Developed with the help of the Mexican Energy Secretariat (SENER), the report, titled Renewable Energy Prospects: Mexico, notes that PV energy could provide 30GW of power by 2030. Achieving such a number would require an average yearly installation rate of 1.5GW.

According to the report, a quarter of the total installed capacity in 2030 would be made up of distributed PV and mini-grid applications for street lighting, agricultural water pumping and mobile-phone towers (7GW).

Adnan Z. Amin, director-general of IRENA, said: “Mexico represents one-fifth of all energy use in the Latin America and Caribbean region and is key to ensuring a successful regional transition to renewable energy. With the recent energy sector reform, Mexico is now on the path of rapid renewables growth, which can help secure a safer, healthier and more sustainable future."

The report also states that Mexico could produce up to 46% of its electricity in 2030 through renewable energy sources, with a heavy reliance on both PV and wind power (30GW) to reach that threshold.

Under current policies, the swath of renewable energy in Mexico’s energy mix will only reach 10% by 2030. However, if Mexico succeeds in hitting a 21% share of renewable energy, It will save US$1.6 billion in total energy system costs by 2030.

Dolf Gielen, Director of IRENA’s Innovation and Technology Centre, said: “This report shows that Mexico could install significantly higher amounts of renewables – and that it can do so affordably. The dramatic technology cost declines present a real opportunity for Mexico to scale up their renewable energy deployment and lead the region towards a clean energy future.”