PV Module Demand in Brazil''s Centralized Generation Market
Brazil''s centralized solar generation market experienced a decline in photovoltaic (PV) module demand in 2024, reaching 5.1 GWp, an 18% decrease from 6.2 GWp in 2023,
The fourth quarter broke records with over 5GW of imports, as noted by Greener, a local solar analysis and advice company—that's the most Brazil ever saw in three months. From November to December, China shipped nearly 4GW of solar modules to Brazil, becoming a huge part of Brazil's import activity.
In 2023, amidst global economic ups and downs and changing energy demands, Brazil saw a tiny dip in its solar module imports—17.5 gigawatts (GW), just 0.3GW less than the year before. Despite this small drop, the solar industry has grown a lot, showing Brazil's dedication to clean energy and its prospects for getting even bigger.
The huge number of solar panel imports late in the year hints at a really positive future for Brazil's solar industry. The importance of spreading out power generation across many locations and ramping up big solar farm projects is super clear – both are crucial for making Brazil's energy usage greener and cutting down on its carbon emissions.
For instance, infrastructure investment firm I Squared Capital decided to pour in as much as US$400 million into Órigo Energia, a Brazilian company focused on generating power in lots of places at once. They're doing this to back the creation of 2GW worth of new projects, showing that global investors believe in Brazil's solar power market.
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