Will Mexico develop energy storage technologies in the next decade?

However, we expect Mexico to develop its energy storage technologies significantly over the next decade, as well as its lithium mining industry, as it increases its renewable energy capacity as part of a global green energy transition.

How can Mexico accelerate investment in energy storage?

Mexico must set a legal definition of energy storage and clear market regulations. As a late mover, Mexico can select projects with less technological uncertainty. Procurement targets accelerate the formation of a storage market in the short term. Financial incentives are necessary to accelerate investment in energy storage.

Will Mexico start energy storage RD&D projects?

The roadmap suggests developing regulations and promoting research, development and demonstration (RD&D) projects , but these proposals have not yet been adopted as a formal policy guideline. Nevertheless, Mexico is expected to start energy storage RD&D projects in the next years.

Does Mexico need a storage infrastructure?

As Mexico’s generation capacity continues to increase at a pace that its transmission infrastructure cannot keep up with, the development of storage infrastructure becomes even more urgent if the Mexican electricity system is to function efficiently and reliably, agree industry experts.

Should energy storage be a priority in Mexico?

If energy storage deployment is considered a priority in the following years, Mexico could accelerate investments through a mix of storage procurement targets and financial incentives. A strong storage market can also be built over time by offering rebates, loans, investment grants, tax credits or other financial incentives.

Why is storage important in Mexico?

As such, storage is increasingly needed to inject much-needed flexible power into the grid. He noted that one of the most important obstacles standing in the way of storage development in Mexico continues to be the legal and regulatory certainty of projects.