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Q: How can Solarever help Mexico become a potential hub for PV solar manufacturing and technology?
A: We are the main manufacturers of PV solar technology in Latin America. As a Mexican company, we are helping Mexico to position itself as the biggest manufacturer in the region. We not only sell solar panels here but we also export to the US, Canada and other parts of the world. Solar power production has great potential here because we have excellent products, quality service and low costs since we manufacture locally, part of the work we do to boost the industry in Mexico.
Another of our goals is to breed innovation in Mexico. The country currently does not have a strong base to develop renewable energy technologies. We should not need to reach out to other countries for technology; we should have a technological hub in Mexico. To this end, Solarever is providing support to universities. There are more than 20 universities in the country offering a renewable energy major and we want to create alliances to ensure further technology is developed. We are also working with Chinese universities to create exchange programs and we aim to be a frontrunner in this regard. Solarever will soon host an event where it expects to create these alliances between universities and the government too, so that the latter can fund the development of technology.
Q: How have regulation and uncertainty impacted the company’s operations?
A: Problems with regulation are an issue for investors. Nevertheless, there are two sides to this matter. Solar farms or utility-scale projects are having a hard time because they need permits for interconnection and power production and the permit processes have become increasingly complicated. Therefore, almost all private investors have stopped investing in large-scale renewable power projects. The government, however, continues to invest in big renewable energy projects, like Puerto Peñasco. In the future, the government may even invest in the northern border to sell electricity to the US. These types of projects can be a path to improve the industry.
Distributed generation (DG) regulation creates another challenge for the industry. DG below 0.5MW is a good option because no permits are required. This is where many can continue to invest. Nevertheless, the threshold is an extremely low limit. In Brazil, for example, DG limits are 5 or 10MW, and no permit is needed below this figure. It is, therefore, difficult to expand the DG market in Mexico. In addition, the DG environment is facing changes regarding regulations and requirements, creating uncertainty in the industry. Despite these challenges, it still is a sizable industry with a strong global future globally, although it will be difficult to drive DG development in Mexico in the near term.
Q: How is Solarever managing these hurdles?
A: If the market presents problems, this is naturally a negative for us as well. However, we are continuing to grow because we have extraordinarily strong manufacturing capacities and good quality, prices and sales. We have 10 warehouses and almost 20 offices in Mexico to keep the service optimal and help customers solve problems. Secondly, since our main market is not Mexico but the US, a larger market for solar with faster growth overall, we have been more resilient.
Q: How do you expect demand for solar panels to develop in the short and medium term?
A: This year, the war in Ukraine proved that access to power is a major risk factor for Europe. The world understands more than ever how important energy security is, which has become an extension of national security. Energy independence is, therefore, paramount. The US recently passed a law, the Inflation Reduction Act, to support the renewable energy industry, and other countries are making similar moves. This is the trend of the future, especially for solar energy and electric vehicles (EVs). No one can stop this blooming trend in which the world will increasingly turn toward solar power.
Q: What have been the key milestones achieved by the company since the opening of the Tecoman plant?
A: Our group has grown quickly over the past three years. After we opened the factory, we increased the initial manufacturing capacity. Now, Solarever has a 1.1GW manufacturing capacity in Tecoman, Colima, compared to 500MW previously. At the same time, we are building a new factory in Guanajuato for solar cells to become the first manufacturer of this technology in Latin America. We are also in the process of constructing battery solutions in Jalisco. Furthermore, we recently launched our EV from Solarever Electric Vehicles (SEV), and we launched our battery products as well as storage solutions. Solarever is expanding its scope with more renewable energy-related products.
The EV the company is called E-Wan, featuring the most competitive price in the market. This will allow more people to enjoy this revolutionary mobility technology, which is in line with our business focus of making energy available to every last person.
Q: What role does Solarever aim to play in the future of Mexico’s renewable energy sector?
A: As one of our main priorities, we are creating an ecosystem for renewable energy in the country. Solarever manufactures solar battery systems, solar panels and solar cells, and now has its EV and charging solution available. More importantly, we want to bring this technology to the people and make it truly accessible. We are leading that part of the energy transition in Mexico and our goal is to become pioneers elsewhere in the world, too.
Over the next five years, Solarever wants to become the continent’s biggest and best technology company in the solar industry. We aim to bring the value and innovation of companies like Tesla but focused on accessibility and attainability for those without massive amounts of money to spend.
Solarever works in the development, manufacturing and distribution of solar panels, ranging from residential projects to solar farms. The company has several manufacturing plants in Mexico, including Latin America’s largest, located in Tecoman, Colima.