THE MEXICAN ENERGY REFORM AND CLEAN ENERGY: LESSONS FROM THE SWEDISHNORWEGIAN SCHEME OF CLEAN ENERGY CERTIFICATES

The recent approval of a Clean Energy Certificates market in Mexico is part of the broad Energy Reform in the country since the end of 2013. Clean Energy Certificates create an incentive for new investment and a source of extra income for green energy producers in the electricity market. Mexico's scheme is based on similar Green Trade Certificates schemes, which promote investment in renewable energy by setting quotas on electricity producers and requiring certain electricity users to buy certificates. This article briefly looks at the early adopters, Sweden and later Norway, where a similar scheme has been implemented since 2003. The Nordic scheme, along with other policy measures, has proven effective in increasing the share of renewables. This article analyzes the Mexican Energy Reform's approach to renewable energy, and explains how Mexico can learn from its Swedish and Norwegian counterparts.