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Brazil's photovoltaic and solar energy sector has attracted an investment of 200 billion Brazilian reals

2024-05-13

On May 6th, S ã o Paulo State Daily reported that according to data from the Brazilian Photovoltaic and Solar Association (Absolute), the Brazilian photovoltaic and solar energy sector has attracted an investment of 200 billion Brazilian reals, with an installed capacity (including distributed and centralized) of over 42.4 gigawatts (GW), accounting for 18% of the Brazilian electricity matrix. In the past decade, the photovoltaic and solar energy industry has created 1.2 million jobs and paid 61.9 billion reals in taxes. The association stated that the rapid development of the photovoltaic solar energy industry is due to two reasons: firstly, energy cost savings of up to 90%, with solar panel prices dropping by 50%; secondly, industrial decarbonization policies are forcing the development of a green economy. According to a report released by the International Renewable Energy Agency (IRENA) at the end of March this year, Brazil ranked sixth in global photovoltaic solar power generation in 2023, up two places from its 2022 ranking.

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