How Much Does a Solar Panel Cost in Mexico?
Powering your property with solar energy definitely has its benefits. By simply allowing solar panels to collect the energy for your home, business, or any other venue, you can save a lot on electricity. But acquiring solar panels can sometimes be a nuisance. Especially when you’re dealing with laws surrounding solar panels and are unaware of the cost. And if you happen to need solar panels for a property in Mexico, understanding how much they can cost for you is like trying to solve a very complicated puzzle. But don’t worry, if you need to know how much a solar panel can cost you in Mexico, then continue reading below. Not only has Solar Stack listed a simple guide about the costs for solar panels in Mexico, but they’ve also listed the laws surrounding it so that you’re not left in the dark.
Mexico’s Laws Surrounding Solar Power, Global Influences, & How They Affect The Cost
To understand how much solar panels could potentially cost you in Mexico, it’s important that you understand the laws surrounding it. And if you’re not up-to-date with the trends regarding solar prices in Mexico or Latina America, it may surprise you that solar panels may not turn out to be that expensive. In truth, if you require solar panels in Mexico, you may just be getting them at the cheapest cost in the world.
Laws surrounding solar power in Mexico and global influences have actually caused the cost of solar panels in Mexico to be lowered substantially. In fact, Mexico is recognized for having record solar prices that have fallen below the average cost of energy from gas and coal. In 2012, Mexico had decided to follow in California’s footsteps and introduce a law requiring that 35% of electricity comes from renewable resources by 2024. By the next year, Mexico had already accomplished 22% of their goal by obtaining this percentage from installed electricity generation capacity. And while only a small percentage of this came from solar power innovation (0.1%), it would certainly help to get the ball rolling.
By 2017, Mexico had set a record low for solar power in Latin American. By 2018, Mexico had accomplished what was thought couldn’t be done:
The average solar panel cost in Mexico had fallen below the global average price for energy from gas and coal.
Since this accomplishment, it’s expected that the cost of solar panels in Mexico will only keep decreasing. And this is due to quite a few factors.
For one, there is an overabundance of PV technology in Mexico, so solar panel cost in Mexico has dropped drastically compared to years before. There’s also the renewable auction system in Latin America, which has caused a decline in average power-purchase agreement prices across the entire region. In Mexico, particularly, prices have dropped 76%, from $89 to $20.84 per megawatt-hour. And due to this plus other planned innovations provided by Mexico, it’s believed that the country will have the lowest forecast system costs in 2022.
With all these factors combined, the cost of solar panels in Mexico will prove to be substantially low for property owners.
How Much do Solar panels Cost in Mexico?
Now that you’re well aware of the influences that affect PV in Mexico, one question remains:
What is the solar panel cost for homes and businesses in Mexico?
Well, that all depends on the kilowatt-hour (or kWh) of your home or business.
All homes and businesses vary in shapes and sizes, and that also means the kWh rate of all such properties will vary as well. With that being said, only an average price can be deduced at based on your properties kWh usage.
Below is a list of the average solar panel cost for homes in Mexico, including prices for installation and tax credit:
- 4kW System size – $2.65 per watt – $7,837 for installation
- 5kW System size – $2.54 per watt – $9,391 for installation
- 6kW System size – $2.42 per watt – $10,745 for installation
- 7kW System size – $2.39 per watt – $12,405 for installation
- 8kW System size – $2.42 per watt – $14,355 for installation
- 9kW System size – $2.42 per watt – $14,355 for installation
- 10kW System size – $2.32 per watt – $17,160 for installation
With the addition of solar panels on your Mexican home, on average, you can up to $655 per year on utilities. This, of course, all depends on your own unique situation
How Much Do Solar Panels Cost in Mexico For a Business
“How much do solar panels cost in Mexico for a business?”, you might ask.
When it comes to determining the average cost of solar panels in Mexico for businesses, it can get a little ambiguous. As with most businesses compared to homes, the price of electricity for the former can be higher than the latter. And this is often due to the fact that much more electricity is often required to power up a lot of devices in a work environment. With that being said, the cost of electricity for business in Mexico can cost roughly 1.5 pesos (about 50 cents USD) more than it does for a household. So when you’re interested in utilizing solar power for your business, the cost of solar panels in Mexico for your property may prove to have higher rates as opposed to a home. More so, depending on the size of your business’s property, installation could also be higher than what it usually is for a home.
Nevertheless, while solar panels might cost more for your business as opposed to a home in Mexico, you’ll still be able to get them at a low affordable rate. And this is essentially due to Mexico’s incredible PV market. And other than low rates, just like homeowners in Mexico, you can also save quite a bit of money as well.
If you intend on having solar panels installed on your Mexican business, you’ll find that they’ll be offered at low prices!
Want to Install Solar Panels in Mexico Without Damaging Your Roof? Contact The Professionals Over at Solar Stack Today!
Now that you’re well aware of the PV laws and solar panel cost for homes and businesses in Mexico, ensure that your new solar panels are stationary with Solar Stack’s solar panel mounting system! Solar Stack has been providing quality work to countless patrons over the course of many years. When they come to prepare your roof for the installation of your new solar panels, they’ll ensure that your properties’ latest additions will fit with no issues whatsoever. But more so, they’ll also ensure that no damage is done to your roof – and that means no penetrations whatsoever. We feel more than confident that when you call us, you’ll benefit from our work as you’re added to our growing list of satisfied customers. For any inquiries, you may call us at 877-SLR-Stack or visit our contact page.