Brazil's Solar Energy Soars: 40% Growth in 2024 Reaches 52 GW Milestone
Brazil's solar energy sector has achieved a remarkable milestone, reaching an installed capacity of 52 gigawatts (GW) by the end of 2024, according to the Brazilian Association of Solar Photovoltaic Energy (ABSOLAR). This represents a substantial 40% increase from the 37 GW recorded at the end of 2023. evwind.es
This impressive growth underscores the resilience and potential of solar energy within Brazil's energy landscape. Since the inception of solar expansion in the country, the sector has attracted over R$238.3 billion in investments, generated more than 1.5 million green jobs, and contributed R$73.8 billion in revenue to the public sector. Additionally, it has played a crucial role in environmental sustainability by preventing the emission of 63 million tons of CO₂.
The total installed capacity comprises 34.8 GW from distributed micro and mini-generation systems and 17.4 GW from large-scale solar plants, reflecting the widespread adoption of solar technology across all Brazilian states. evwind.es
Despite these achievements, the sector faced challenges in 2024, including resistance from distributors to connect new solar systems and generation cuts imposed by the National Electric System Operator (ONS). These obstacles impacted generator revenues, complicated contract fulfillment, and hindered investments in new solar ventures.
Looking ahead, ABSOLAR emphasizes the need for advancements in public policies and the incorporation of best legal and regulatory practices to fully harness solar energy's potential in Brazil's social, economic, and environmental development. Opportunities in emerging technologies, such as energy storage and green hydrogen, present avenues for Brazil to assume a leadership role in the global energy transition, provided a favorable business environment is cultivated to attract investments and create green jobs.
Brazil's commitment to renewable energy is further highlighted by its addition of 10.9 GW of new power capacity in 2024, with over 91% derived from renewable sources, including significant contributions from solar and wind energy. enerdata.net
The continued expansion of Brazil's solar energy sector not only strengthens its electricity matrix but also positions the country as a significant player in the global shift towards sustainable energy solutions.
Read more about it here: “Solar energy photovoltaic (PV) grew by 40% in 2024 and reaches 52 GW in Brazil“
