Electricity in Mexico in 2023/2024

From November 2023 to October 2024, Mexico's electricity consumption shows a clear reliance on fossil fuels, with more than half of its electricity, about 74%, coming from these sources. Gas alone accounts for over 60% of the electricity use, while oil and coal contribute to a smaller but still significant share. On the cleaner side, Mexico generates almost 22% of its electricity from low-carbon sources. Hydropower leads this section with a bit more than 6%, followed closely by wind and solar, which each provide around 5% of electricity. Nuclear and geothermal make up the remaining small portion, with nuclear contributing just over 3%.

Suggestions

To increase its share of low-carbon electricity, Mexico can draw lessons from countries like France and Denmark, both leaders in clean energy generation. France's focus on nuclear energy, producing 68% of its electricity from this source, shows the potential of nuclear power in diversifying electricity supply. Denmark's success in harnessing almost 60% of its electricity from wind proves that wind power, supported by strong policies and investment, can achieve dramatic results. For countries with similar climates and resources, such as Uruguay and Chile, emphasis on wind and solar energy respectively has paid off, with each achieving high percentages in their respective energy mixes. Mexico can strive for a balanced mix of nuclear, wind, and solar to improve its low-carbon electricity generation.

History

Historically, Mexico has experienced fluctuations in its low-carbon electricity generation, notably in hydropower. The early 1980s marked a significant rise in hydroelectric contributions, with notable increases in 1981. However, this trend also saw substantial downturns, particularly in 1986 and the late 1990s. More recent decades have shown growth in solar power, with 2020 marking a significant increase. Despite setbacks, like the decline in solar and biofuels in 2024, the potential for clean energy remains strong. Fostering a stable and expanding low-carbon strategy, particularly by revitalizing nuclear and supporting newer technologies like solar and wind, will prove crucial to bolstering Mexico’s sustainable electricity future.

Electricity Imports and Exports

Balance of Trade

Data Sources