Mexico Rooftop Solar Market Size (2024 - 2029)

Mexico Rooftop Solar Market Size Summary

The Mexico solar rooftop market is poised for significant expansion, driven by the increasing demand for clean energy solutions and the government's commitment to reducing greenhouse gas emissions. The market is experiencing a shift towards distributed generation, particularly rooftop solar PV systems, as a response to high electricity prices and power shortages. This transition is further supported by substantial reductions in the cost of solar modules and system components. Despite these positive trends, challenges such as the availability and cost of financing may impede market growth. The residential segment is expected to lead the market, fueled by high power consumption and favorable net-metering and net-billing schemes that allow consumers to offset their energy costs with solar power generation.

Mexico's national energy policy emphasizes the importance of renewable energy, with a target to generate a significant portion of electricity from clean sources by 2030. Solar energy has emerged as a key component of this strategy, with the country witnessing a rapid increase in solar PV capacity. The growth of the rooftop solar market is further bolstered by support from organizations like IDB Invest, which aims to enhance the deployment of residential solar systems. The market is moderately consolidated, with key players such as Enlight Mexico, Bright Mexico, Tesla Inc, SunPower Corporation, and Positive Energy Solar actively participating. As solar power continues to gain traction in Mexico's energy mix, the rooftop solar market is expected to benefit from this upward trend, contributing to the country's renewable energy goals.