The article considers the development of Brazil and Mexico in relation to such new renewable energy sources as solar and wind energy. The strategic development plan of both countries published in 2020 was considered in relation to the volume of power generation capacities planned for construction in such areas as centralized solar generation, wind generation and distributed generation. The legislative framework regulating the development and activities for the production of electricity based on solar and wind energy is presented, as well as the main programs that have been or are being carried out by the government of Brazil and Mexico in order to support the development of renewable energy, primarily solar and wind power generation. The tools used in Brazil and Mexico to stimulate the development of solar and wind generation are described, including energy auctions, partial state financing of projects, fiscal incentives and distribution network access policies. The statistics on the dynamics of the volume of installed capacities and the generation of electricity based on solar and wind energy from 2011 to 2020 are given. Based on the analysis of the above areas, a comparison was made between the development of solar and wind power generation in Brazil and Mexico and an assessment of the potential prospects for these areas.