Electricity in Mexico in 2023/2024

Between August 2023 and July 2024, electricity consumption in Mexico heavily relied on fossil fuels, accounting for over three-quarters of the total electricity produced. Gas was the leading source among fossil fuels, contributing more than sixty percent of the electricity output, while oil and coal each added about six percent. On the other hand, clean energy sources made up nearly twenty-one percent of the total electricity supply. Wind, hydropower, and solar each provided around five percent, closely matching one another in their share, while nuclear energy contributed about three percent to the mix. Geothermal sources played a minimal role, generating just about one percent of the electricity.

Suggestions

Mexico has immense potential to boost its share of low-carbon electricity generation by learning from countries with successful clean energy strategies. To enhance nuclear power generation, as seen in France where two-thirds of the electricity is nuclear, Mexico can invest in modern nuclear plants to facilitate a significant portion of its electricity needs. Uruguay and Denmark, leading in wind energy, prove the feasibility of achieving a substantial wind power contribution, generating over one-third and more than half of their respective electricity needs through wind. Moreover, considering the potential for solar energy in Mexico, inspiration can be drawn from countries like Greece and Chile, where solar accounts for over twenty percent of electricity. By diversifying its energy strategy and prioritizing investing in solar, wind, and nuclear, Mexico can advance toward a sustainable electricity future.

History

Historically, Mexico’s journey toward low-carbon electricity has seen fluctuations, particularly in hydropower, which has experienced both enhancements and setbacks over the years. In the early 1980s, Mexico saw significant increases in hydropower, with 1981 being a notable year, contributing a remarkable boost of 7.7 TWh. The pattern continued with various ups and downs, such as an increase in 1995 followed by declines in 1997 and 2003. In recent years, solar power began playing a more prominent role, especially with the substantial contribution in 2020 of over 9 TWh. However, 2023 saw a significant reduction in both solar and hydropower, with more than a 15 TWh decrease in hydropower. This highlights the need for a stable and reliable investment in low-carbon sources like nuclear power that could provide a steady and substantial contribution to Mexico's electricity landscape. By learning from the past and investing in sustainable solutions, Mexico can overcome such challenges and ensure a cleaner and more reliable electricity supply.

Electricity Imports and Exports

Balance of Trade

Data Sources