Brazil PV capacity surges past 55 GW
Brazil has reached a remarkable milestone in renewable energy by surpassing 55 GW of installed solar power capacity. According to the Brazilian Association of Photovoltaic Solar Energy (Absolar), solar energy now makes up 23.7% of the country’s total electricity capacity. This achievement places solar energy ahead of the legendary Itaipu hydroelectric plant, which has a capacity of 14 GW.
Of the impressive 55.1 GW solar power capacity, 31.8 GW is attributed to distributed generation, while the remaining 23.3 GW stems from centralized generation. Absolar emphasized that solar power has witnessed an extraordinary 25-fold increase in capacity from early 2018 to September 2024. In the past year alone, the sector has expanded by adding 13 GW of new capacity.
Brazil PV capacity becomes a major contributor to the energy mix
Absolar President, Rodrigo Sauaia, underscored the importance of solar energy in Brazil’s energy matrix. He highlighted that solar power has emerged as the second-largest energy source in Brazil’s electricity framework.
“Solar energy has established itself as the second-largest energy source in Brazil’s electricity matrix, demonstrating its strategic importance for the country’s energy transition and sustainable development. The growth of solar energy in Brazil has been driven by the competitiveness and attractiveness of technology for consumers and investors, in addition to its positive impact on job creation and the fight against climate change,” said Sauaia.
Economic impact of Brazil PV capacity
The report also detailed the economic influence of Brazil’s solar energy sector. Since 2012, the sector has drawn BRL 264 billion ($51.8 billion) in new investments and created 1.1 million jobs. Additionally, solar energy has prevented CO2 emissions equivalent to 50.6 million tons and contributed BRL 86.8 billion in taxes.
Solar energy stands out as the most cost-effective renewable energy source for consumers, offering substantial savings on electricity bills. On average, solar power costs BRL 0.11/kWh, while electricity from the distribution grid costs BRL 0.95/kWh, representing a potential reduction of up to 88% in electricity bills.
Sustainability benefits of Brazil PV capacity
Solar energy plays a pivotal role in Brazil’s sustainable development. The sector has helped avoid emitting 50.6 million tons of CO2 and has lessened the reliance on thermoelectric plants, which are costlier and more environmentally damaging.
Solar energy is also the fastest and most economical renewable source to be installed in the country. According to a study by Absolar, the average time for installing a photovoltaic solar plant in Brazil is only five months. The cost of solar energy is also the lowest, at BRL 0.11/kWh, compared to other renewable sources such as wind, hydroelectric, biomass, and biogas.
The future of Brazil PV capacity
The report indicates that solar energy is poised for continued growth in Brazil, driven by its economic and environmental advantages. The sector is set to play a crucial role in the country’s energy transition and sustainable development.
Absolar’s report highlights Brazil’s significant progress in expanding its solar power capacity, underscoring the sector’s economic, environmental, and social benefits. With solar energy now playing a crucial role in Brazil’s energy mix, the country is well-positioned to advance towards a more sustainable energy future. For more detailed insights, explore the Brazil Solar Panel Manufacturing Report.
