How much do solar panels cost in Mexico?

In fact, the current administration expects to spend 70,000 million Mexican pesos in electricity subsidies (roughly 3,400 million dollars), and in the last decade this cost has summed up to 350,000 million Mexican pesos. At this cost, PV solar panels could be installed in all households.

Should solar panels be deployed in northern Mexico?

Questions regarding future technologies and innovation. The initiative to deploy solar panels in the northern regions of Mexico is a commendable strategy that aligns with environmental sustainability and energy independence goals. High temperatures and abundant sunlight make northern Mexico an ideal location for solar energy production.

Can solar panels be used at night in Mexico?

Having a battery bank in your home to store the energy your panels produce during the day is a thing of the past, now you can feed the utility grid in Mexico during the day while your solar panels are generating and utilize the grid’s energy during the night at no cost to you.

What is solar bond financing?

Bond financing is offered to residents or businesses so they can invest in solar energy and repay the bond financing through their monthly electric bills. These types of bonds can help to encourage the faster development of renewable energy projects, as seen in cities such as San Francisco in the United States.

How much does a solar project cost?

Phase one of the two-year project will provide PV systems to 635 households. If successful, the project could produce 1,690MW of solar capacity through the installation of 25,000 solar panels over 15 years, at an estimated cost of roughly $320 million.

How will CFE use the solar bond scheme?

CFE will use the solar bond scheme to install PV systems in residential areas, providing users with enough electricity to meet their needs and sending excess electricity back to the grid. We expect this program to lead to lower costs for the user as well as lower subsidy costs for CFE.