Solar PV overcomes 25 gigawatts, and total investment exceeds BRL 125.3 billion in Brazil, ABSOLAR reports

Since 2012, more than 750,200 jobs have been created, and 33.4 million tons of CO2 emissions have been avoided in electricity generation.

São Paulo, February 2023 – Brazil overcomes 25 gigawatts (GW) of installed power in solar PV. Together large-scale plants and self-generation systems on roofs, facades, and small plots, account for 11 .6% of the country's capacity.

According to the Brazilian Association of Photovoltaic Solar Energy (ABSOLAR), solar PV soared approximately 76%, from 14.2 GW to 25 GW in one year. In the last 08 months, the source has grown at an average pace of 1 GW per month, jumping from 16.4 GW in July 2022 to 25 GW in February 2023.

Since 2012 the segment has brought about R$ 125.3 billion in new investments to Brazil. More than R$ 39.4 billion has been collected for public coffers, and over 750.2 thousand jobs have been created. In addition, 33.4 million tons of CO2 emissions have been avoided in electricity generation.

To Mr. Ronaldo Koloszuk, chairman of ABSOLAR's Board of Directors, the accelerated growth of solar PV is a worldwide trend. "Brazil has one of the best solar resources on earth. The country has the potential to produce the world's most competitive green hydrogen (GH2)", he adds.

“According to a study by McKinsey & Company, Brazil could double its installed capacity by 2040 and should receive around US$ 200 billion in investments destined to produce GH2. The whole package of investments includes generation, transmission lines, GH2 production plants, and associated infrastructures, such as port terminals, pipelines, and storage facilities”, Mr. Koloszuk comments.

Brazil has around 7.8 GW of installed power in large-scale solar plants. Since 2012, large solar plants have brought roughly R$36.9 billion in investment and more than 233,000 jobs. In addition, more than R$12 billion have been collected for public coffers.

As for self-generation, there is 17.2 GW of installed power in solar PV. This is equivalent to about BRL 88.4 billion in investments, BRL 27.4 billion in taxes, and more than 517.2 thousand jobs, since 2012. Solar PV is the technology of choice in 99.9% of all self-generation connections across the country.

For Rodrigo Sauaia, CEO of ABSOLAR, the expansion of Solar PV enhances the competitiveness and sustainability of Brazilian businesses. It also benefits all consumers and helps the country to fulfill its environmental commitments.

About ABSOLAR

Founded in 2013, the Brazilian Photovoltaic Solar Energy Association (ABSOLAR) brings together companies and professionals from the entire production chain of the photovoltaic solar sector operating in Brazil including both, distributed and centralized generation. ABSOLAR coordinates represents and defends the development of the photovoltaic solar energy sector and market in Brazil. The association promotes and disseminates the use of this clean, renewable and sustainable energy in the country and represents the Brazilian photovoltaic sector internationally.

For more information, please, contact:

Thiago Nassa (MTb. 30,914)

TOTUM Communication

+55 11 99544 4954

Miriam Lovita – Communication and Marketing

Brazilian Association of Photovoltaic Solar Energy – ABSOLAR

+55 11 3197 4560

[email protected]