• 4 minutes Will We Ever See 100$+ OIL?
  • 8 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 11 minutes Energy Outlook for Renewables. Pie in the sky or real?
  • 1 hour Iran Loses $130,000,000 Oil Revenue Every Day They Continue Their Games . . . .Opportunity Lost . . . Will Never Get It Back. . . . . LOL .
  • 1 day Iran Captures British Tanker sailing through Straits of Hormuz
  • 15 hours Renewables provided only about 4% of total global energy needs in 2018
  • 6 hours EIA Reports Are Fraudulent : EIA Is Conspiring With Trump To Keep Oil Prices Low
  • 2 days Drone For Drone = War: What is next in the U.S. - Iran the Gulf Episode
  • 1 day Berkeley becomes first U.S. city to ban natural gas in new homes
  • 2 days Today in Energy
  • 34 mins Shale Oil will it self destruct?
  • 19 hours Oil Rises After Iran Says It Seized Foreign Tanker In Gulf
  • 2 hours First limpet mines . . . . now fly a drone at low altitude directly at U.S. Navy ship. Think Iran wanted it taken out ? Maybe ? YES
  • 1 hour N.Y. Governor Signs Climate Bill
  • 2 days LA Solar Power/Storage Contract
  • 3 days Why Natural Gas is Natural
IEA: Huge Oil Glut Coming In 2020

IEA: Huge Oil Glut Coming In 2020

While oil supplies are set…

Russia’s Oil Output Rebounds From Three-Year-Low

Russia’s Oil Output Rebounds From Three-Year-Low

Russia’s oil production in the…

Mexico Could Cut Electricity Prices By 40% With Renewables

solar park

Mexico could see electricity prices drop by as much as 40 percent by deploying more renewable energy generating capacity. This is the conclusion of a study carried out by the Mexican Business Coordination Council, quoted by S&P Global Platts. Representatives of the local wind and solar power industry associations were co-authors of the study.

Commenting on the study, the director of the Mexican wind power association, AMDEE, said that renewable energy could turn Mexico into a more competitive player on the energy market. Leopoldo Rodriguez also said, "Data have shown renewable generation in Mexico has more than surpassed all our expectations."

Last year, 21 percent of Mexico’s electricity, or 69.4 GWh, came from renewable sources. Renewable generation capacity stood at 22.3 GW, representing 30 percent of total installed capacity. Plans are in place to boost the portion of electricity produced by cleaner energy sources to 35 percent of the total by 2024.

Longer-term plans envisage expanding further the share of renewables in the country’s energy mix to 50 percent by 2050. As part of the plan, this year saw the launch of clean energy credits, a Renewable Energy World article by Mary DeFilippe from April noted, which will be instrumental in achieving the renewable energy goals of the previous government, provided, of course, the incoming Obrador administration sticks to them.

It might; although for now, the focus is on energy as a whole, and boosting domestic oil production is part of this priority. An August story by Reuters quoted analysts as saying that the Mexican president-elect could do better in his top priorities—poverty and equality—if he focuses more on renewables, which also made up part of his campaign platform. But there are worries that the pledge to put more power into the hands of Petrobras and increase domestic oil production would come into conflict with environmental commitments.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment
  • hall monitor on October 05 2018 said:
    more power into the hands of Petrobras and increase domestic

    should be Petromex

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play