By Eric Wesoff | GreenTech Media
Latin America is about to find out whether unsubsidized solar can be an economic market reality.
While generous subsidies have driven the thriving solar markets of Germany, Japan, China and the U.S., botched efforts in Spain, Italy, and the Czech Republic have driven markets to overheat and collapse.
But with Mexico and the rest of Latin America, we’re seeing renewable markets evolve with far less government largesse.
Although thermal power dominates Mexico’s current energy mix, “Mexico is poised to be the hotbed for solar deployment in Latin America,” said Adam James, author of GTM Research’s Latin America PV Playbook. He suggests that Mexico is the “bellwether” for an unsubsidized global solar future.
Can solar flourish in an unsubsidized solar region?