Geothermal in Mexico: The Ring of Fire
By Paola Moreno
Mexico is located over the Ring of Fire, extracting heat from the earth can be both economic and feasible.
Mexico was the first country to commit to specific targets under the Paris Climate Agreement, and achieving those targets is driving solar energy in the country.
Mexico’s renewable energy auctions benefited from the experiences of other countries, so results have generally been better. According to IRENA, 53% of Mexican solar energy auction projects were on time, while only 37% experienced delays.
The Mexican dilemma is a delicate balance for both long-term buyers of power, and for the government. Natural gas stabilizes electricity prices and it provides reliability to the power grid.