Solar PV overcomes 27 gigawatts, and total investment exceeds BRL 134.5 billion in Brazil, ABSOLAR reports

Since 2012, more than 811,400 jobs have been created, and 35.8 million tons of CO₂ emissions have been avoided in electricity generation.

São Paulo, March 2023 – Brazil overcomes 27 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.

Since 2012 the segment has brought about R$ 134.5 billion in new investments to Brazil. More than R$ 41,2.4 billion has been collected for public coffers, and over 811,4 thousand jobs have been created. In addition, 35,8 million tons of CO₂ emissions have been avoided in electricity generation.

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. Solar PV can also play a major role in Federal Social Programs by providing an affordable, renewable, and clean source of electricity to families in need.

“The growth of the solar source can boost investments, create jobs, and generate income. Besides, Solar PV diversifies the generation portfolio and places Brazil among the global leaders in renewables”, Mr. Sauaia comments.

According to the association, solar PV grew 90% in 2022, from 12 GW to 27 GW. Installed capacity jumped 1 GW on average per month, from 16 GW in July 2022 to 27 GW by the end of March 2023.

As for self-generation, there is 18.8 GW of installed power in solar PV. This is equivalent to about BRL 96 billion in investments, BRL 28 billion in taxes, and more than 563 thousand jobs, since 2012. Solar PV is the technology of choice in 99.9% of all self-generation connections across the country.

Brazil also has around 8.3 GW of installed power in large-scale solar plants. Since 2012, large solar plants have brought roughly R$ 38.6 billion in investment and more than 248,000 jobs. In addition, more than R$12.8 billion have been collected for public coffers.

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.

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]