Mexico’s Telmex enters solar business

Telmex is offering all customers, which pay a monthly electricity bill of more than 2,500 MNX (US$134) to local state-owned power utility, Federal Electricity Commission (CFE), the option of purchasing solar panels. The initiative, Telmex said, will enable these power consumers to considerably reduce their electricity bills.

According to the offer’s dedicated page on the company’s website, all of the customers who have their own roof with enough space to install the panels, which is estimated at approximately two square meters per panel, may have access to the offer.

Telmex specified that particularly those residential customers under the regime of DAC (High Consumption Domestic) could benefit from the offer, by saving up to 98% on their electricity bills.

The company added that the PV system could be paid in cash, or through a financing system with a down payment of between 25% and 30%, and monthly installments ranging from 12 to 60 months, with payment on the Telmex bill.

“Once the offer has been accepted and the first payment made, the installation of the PV system is made in a maximum of one week, depending only on the time of authorization and delivery of the new meter by the CFE,” the company stressed.

All of the PV systems sold through this offer will be installed under Mexico’s net metering scheme, which is open to rooftop solar projects not exceeding 500 kW in size. Over the past years, the residential segment with high power consumption was one of the market’s main drivers in the country.