Despite Huge Project Pipeline in Chile, Mexico Will be the Hottest Solar Market in Latin America

New report provides an in-depth look into Latin American PV markets

BOSTON, Dec. 18, 2013 (GLOBE NEWSWIRE) -- With high insolation and a supportive regulatory body, Mexico is the most attractive near-term solar market in Latin America. GTM Research provides a deep dive into the region in a new quarterly subscription service announced today: the Latin America PV Playbook.

The Mexican solar market's installed base will quadruple from 60 MW to 240 MW in 2014, driven by projects approved under the Small Power Producers Program, strong residential demand, and self-supply projects for commercial, industrial, and agricultural customers. The distributed market has the largest total available market and is ripe for development through new business models like leasing and "community solar" arrangements.

"Mexico is poised to be the hotbed for solar deployment in Latin America" said report author and global solar analyst Adam James. "There are a number of programs and policies in place that support solar development across market segments, and high insolation levels that ensure solar generates quick returns. We expect impressive year-over-year growth across the board."

There are currently 219 MW of utility PV projects under construction across all states in Mexico, nearly half of which are in Baja California Sur. Future growth states include Yucatan and Sonora which have announced a combined 280 MW of utility PV projects.

FIGURE: Mexico Pipeline Map: Utility PV Market

According to James, "the Latin American market as a whole represents a huge opportunity for PV. However, the complexities of local markets, financing and regulatory hurdles, and policy risk have all played a role in preventing solar development in the region from reaching its true potential." He noted that companies that understand the risks and nuances of specific markets, and have the tools to target discrete opportunities will be positioned competitively as the market continues to mature.

The Latin America PV Playbook is the most comprehensive analysis available of the Latin American solar market. The annual subscription includes a 50-slide Latin America Solar Essentials report, 70-slide quarterly market updates, and an ongoing project database complete with developers, suppliers, timelines and costs. Markets covered include Mexico, Chile, Brazil, Peru, Central America, and the rest of South America. For more information, visit
About GTM Research:
GTM Research, a division of Greentech Media, provides critical and timely market analysis in the form of research reports, data services, advisory services and strategic consulting. GTM Research's analysis also underpins Greentech Media's webinars and live events. Our coverage spans the green energy industry including solar power, smart grid, energy storage, energy efficiency and wind power sectors.