Forecast: Renewable Energy Supply in Mexico

The analysis of the renewable energy supply in Mexico from 2013 to 2023 demonstrates a fluctuating trend, with notable year-on-year variations. The renewable energy supply experienced a general increase until 2020, with significant growth in 2014 and 2017. However, from 2021 to 2023, the supply showed a slight downward trend, standing at 9.06 units in 2023. Over the past five years, the compound annual growth rate (CAGR) was 1.33%.

Looking ahead from 2024 onwards, forecasts suggest a gradual decline in the renewable energy supply, with an anticipated decrease from 9.02 units in 2024 to 8.88 units by 2028. The forecasted 5-year CAGR indicates a marginal contraction at -0.31%, translating to a total decrease of 1.55% over this period.

Future trends to watch for include:

• Implementation of new renewable energy policies and incentives.
• Technological advancements in energy storage and efficiency.
• Potential impact of global economic conditions on renewable energy investments.
• Shifts in international renewable energy markets and trade policies.