Key Market Indicators
**Mexican Solar Capacity to Surge by 2028** Mexico's solar capacity is projected to soar to approximately 14,000 megawatts by 2028, up from an estimated 9,900 megawatts in 2023. This represents a compound annual growth rate (CAGR) of 5.5%. Notably, since 2001, the country's solar supply has seen a substantial year-on-year increase of nearly 31%. **Solar Energy Consumption to Decline** In contrast, Mexico's solar energy consumption is expected to decrease. Projections indicate it will fall to 0.15 exajoules by 2028 from 0.17 exajoules in 2023, marking a year-on-year decline of 1.7% CAGR. Despite this anticipated drop, it's worth noting that since 2017, the nation's solar energy demand has experienced a significant annual increase of over 41%. This dual trend of rising capacity and falling consumption highlights the evolving dynamics of Mexico's solar energy landscape.
