Forecast: Renewable Energy Consumption in Mexico

The renewable energy consumption in Mexico showed an overall increasing trend from 2013 to 2023, standing at 12.81 units in 2023. While the year-on-year variations swung between negative and positive values, a significant uptick occurred in 2020 with a growth rate of 20.06%. Over the last five years leading up to 2023, the compounded annual growth rate (CAGR) remained healthy at 4.74%

Looking ahead, forecasted data suggests moderate year-on-year growth until 2028, with a forecasted 5-year CAGR of 1.12%. This indicates a stabilizing growth rate in the near term.

Future trends to watch for:

• Government policies and subsidies to promote renewable energy.
• Technological advancements in renewable energy generation and storage.
• Private sector investments in renewable energy projects.
• Global energy market dynamics and their impact on Mexico's energy imports and exports.
• Environmental regulations and their enforcement.