Market Size of Mexico Rooftop Solar Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 16.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mexico Solar Rooftop Market Analysis
Rooftop solar is one of the clean technologies that can produce electricity directly at the point of consumption. The Mexico rooftop solar market is expected to grow at a CAGR of more than 16% over the forecast period. Driving factors such as high electricity prices and power shortages are turning the Mexican consumers' and government's attention towards distributed generation, i.e., rooftop solar PV, to assuage strains on their national grid networks. In addition, the market witnessed significant growth, mainly due to drastic price drops in modules and other system components. However, the availability and cost of financing are likely to hinder the market growth in the country.
- The residential segment is expected to dominate in the Mexico rooftop solar market during the forecast period.
- Mexico has committed to a goal of reducing greenhouse gas emissions by 22% by 2030. As part of this goal, clean distributed generation is slated to play a crucial role in Mexico's energy landscape and is a key priority for policymakers, which, in turn, likely to provide an opportunity in the market.
- Increasing deployment of solar energy in the country is expected to drive the Mexico solar rooftop market over the forecast period.
