Popular Power unlocks USD 500,000 in REC revenue for distributed solar in Mexico

Mexico City, Mexico | February 11th, 2026 — Popular Power, the intelligence layer for solar and storage, is making environmental incentives newly accessible to distributed generation operators in Mexico by simplifying and automating access to International Renewable Energy Certificates (I-RECs). These certificates represent the environmental attribute of clean electricity, one certificate per megawatt-hour. They are purchased by companies that want to match their electricity consumption with renewable generation and reduce their Scope 2 emissions footprint.

Until recently, I-REC participation in Mexico was concentrated among utility-scale developers with the administrative capacity to register assets and issue certificates at volume. Distributed generation (DG) portfolios, despite their growing contribution to Mexico’s clean energy landscape, faced barriers. These barriers included fragmented data across sites, lack of internal processes, limited familiarity with registry requirements, and no clear path to monetize the environmental value already embedded in their portfolios.

Popular Power changed that. By aggregating C&I and residential systems within a single platform, integrating site production data, and automating compliance and issuance workflows, the company has opened the I-REC market to DG operators who have historically been excluded. The result is a new and meaningful revenue stream for portfolios that are already driving Mexico’s energy transition.

Today, Popular Power partners account for more than 40% of all Mexico solar devices historically registered on Evident, the global I-REC registry. The company also registered the first residential portfolio in Latin America, proving that small systems can participate at scale for the first time.

“Popular Power delivered over USD 500,000 in REC revenue for our partners over the past 12 months,” said Stephanie Zayed, Business Development Manager at Popular Power. “We aim to expand access even further and maintain our leadership as the largest source of REC revenue for distributed portfolios in Mexico.”

Why I-REC demand in Mexico is rising

Mexican I-REC prices have seen steady upward movement over the past year, driven by the same market forces accelerating the country’s manufacturing and industrial boom. As companies expand or relocate operations, their electricity footprints expand as well. Many of these companies maintain Scope 2 reduction commitments, which means they must purchase certificates generated within Mexico to credibly claim renewable electricity consumption in the country.

While demand accelerates, supply remains constrained. Registration can be complex for DG operators, and utility scale projects have historically dominated issuance or participated in the country’s local certificate market (Certificados de Energía Limpia, or CELs). This imbalance is creating an increasingly attractive opportunity for DG developers who can bring new, credible supply to market. Popular Power helps them do exactly that.

Turning environmental value into operational value

By making I-RECs accessible, Popular Power is doing more than unlocking revenue. It is strengthening the business models that keep distributed solar online. For many portfolios, I-REC revenue can reach up to USD 6 per kWp per year, enough to reinvest in better O&M services, expand asset management teams, or finance new rooftop and C&I installations. These reinvestments improve asset performance, which in turn elevates long term value for end customers and portfolio owners.

Issuing I-RECs requires granular, auditable generation data, clear ownership of environmental attributes, and strict alignment with registry documentation needs, a process that can be administratively heavy for most DG operators. Through Popular Power, these workflows are automated, so developers can focus on operating their portfolios while the platform manages compliance and issuance in the background.

Agustín Medina of Banverde, a Mexico-based solar company providing financing for C&I customers shared what this shift means for operators. “Being one of the first Mexican distributed generation developers to issue I-RECs is a great milestone for Banverde. It speaks to how our operating processes and governance, combined with professional monitoring, can strengthen our business model.”

Forefront Power, a leading C&I solar project developer with presence in Mexico and the United States, underscored the game-changing value of turning production data into environmental impact. “For us, working with Popular Power allows us to unlock the full value of projects, both environmentally and financially, by being able to participate in the I-REC market,” said Pablo Rivero, general manager of Forefront Power’s Mexico operations.

A vision aligned with an equitable energy transition

“At Popular Power, our mantra is that tomorrow must be distributed today,” said Morgan Babbs, co-founder of Popular Power. “If we can add features that give our partners more financial headroom to install more solar and deliver a higher standard of asset management, we will. Enabling DG operators to mint and sell I-RECs easily on our platform has already impacted the economics for many of them, and we are proud to play a role in that.”

As the region moves through a period of rapid industrial expansion and persistent grid constraints, DG solar will continue to play a central role. Popular Power plans to deepen its environmental market capabilities and expand I-REC accessibility across more countries in Latin America.

Popular Power will continue collaborating across the region to ensure that REC revenues translate into stronger projects, more resilient service for end customers, and a more robust distributed solar sector that can meet the climate demands of this decade.

About Popular Power

Popular Power is the intelligence layer for solar and storage. The platform gives solar companies the insights they need to maximize energy generation, streamline operations, and scale high performing portfolios. With Popular Power, operators track expected versus actual generation, cut O&M drag through smart alerting, and unlock new revenue streams such as I-RECs, all in one platform. Visit popularpower.io to learn more.

For more information, please contact:

Stephanie Zayed, stephanie@popularpower.io