• 4 minutes End of Sanction Waivers
  • 8 minutes Balancing Act---Sanctions, Venezuela, Trade War and Demand
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 14 minutes What Would Happen If the World Ran Out of Crude Oil?
  • 8 mins Permafrost Melting Will Cost Us $70 Trillion
  • 18 hours New German Study Shocks Electric Cars: “Considerably” Worse For Climate Than Diesel Cars, Up To 25% More CO2
  • 14 hours UNCONFIRMED : US airstrikes target 32 oil tankers near Syria’s Deir al-Zor
  • 15 hours Nothing Better than Li-Ion on the Horizon
  • 14 hours Russia To Start Deliveries Of S-400 To Turkey In July
  • 1 day Occidental Offers To Buy Anadarko In $57 Billion Deal, Topping Chevron
  • 7 hours At Kim-Putin Summit: Theater For Two
  • 1 day Facebook Analysts Expect Earnings Will Reinforce Rebound
  • 7 hours NAFTA, a view from Mexico: 'Don't Shoot Yourself In The Foot'
  • 14 hours How many drilling sites are left in the Permian?
  • 4 hours "Undeniable" Shale Slowdown?
  • 2 days Countries with the most oil and where they're selling it
  • 2 days Iran Sabre Rattles Over the Straights of Hormuz
New Electric Vehicles Contain Much More Lithium

New Electric Vehicles Contain Much More Lithium

Lithium carbonate equivalent deployed worldwide…

Chevron And Occidental Start Bidding War For Anadarko

Chevron And Occidental Start Bidding War For Anadarko

Occidental Petroleum said on Wednesday…

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