According to the International Renewable Energy Agency (IRENA), Mexico has large and various renewable energy resources, which could cover up to 46% of its power generation by 2030, compared to the current level and business-as-usual forecast of 18%. By 2030, renewable power generation could increase sixfold, from about 50 TWh in 2014 to 280 TWh in 2030: wind and solar PV could account for nearly 60% of Mexico's renewable power generation and 26% of total power generation by this date. To reach this level, installed wind power capacity should increase from about 1.7 GW in 2013 to 30 GW in 2030 (to reach 92 TWh/year of wind power generation), while solar PV capacity should increase to 30 GW to generate 66 TWh/year in 2030. Biomass-fired power generation capacity could reach 4 GW, while geothermal capacity could reach 4.5 GW in 2030.
According to the IRENA, the development of renewables in Mexico could reduce the country's total coal demand by 62%, while reducing gas demand and oil demand by 21% and 6%, respectively, compared to business as usual to 2030.