Mexico Is Betting Big on a Solar Future

4/16/2016 The Mootley Fool 

Nellis_AFB_Solar_panelsAll eyes in the solar industry have been on the U.S. market for the past few years, largely because of the market’s massive growth rate.SolarCity (NASDAQ:SCTY) has been able to double installations nearly every year of its existence while SunPower (NASDAQ:SPWR)and First Solar (NASDAQ:FSLR) have built a dominant position in the utility scale market.

And south of the border, there could be another solar boom taking place. CFE, Mexico’s only utility, just did its first clean energy auction and 74% of the bids were won by solar developers, with the other 26% going to wind. In total, 4 million MWh of solar electricity will be purchased each year as a result of this auction alone, enough to power the entire state of Mississippi for a month.

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