Brazil Installed Solar Capacity Touches 50 GW In 2024

Brazil’s solar installed capacity recently reached 50 GW according to new data from the Brazilian Photovoltaic Solar Energy Association (ABSOLAR). Of the cumulative capacity, the country secured 33.5 GW from distributed generation and 16.5 GW from utility-scale projects,

The country now sources more than 95% of the capacity released this year from renewable sources. With this achievement, Brazil joins the list of the top six countries with high solar installed capacity (as of October 2024). The countries with the highest installed capacity include China (617 GW), the United States (189.7 GW), Germany (94.36 GW), India (92.12 GW), Japan (90.4 GW), and Brazil (50 GW). Solar now accounts for 20.7% of Brazil’s total power capacity, making it the country’s second-largest energy source. Between January and October 2024, Brazil added 13 GW of new PV capacity, placing it among the top-performing countries globally.

According to the National Electric Energy Agency (ANEEL) of Brazil, the country combines solar self-generation (distributed generation) through small and medium stations installed on rooftops and land plots, totaling 33.5 GW, with large-scale solar plants, which account for 16.5 GW. According to ABSOLAR, since 2012, the solar energy segment has brought R$229.7 billion in new investments to Brazil and generated over R$71 billion in public revenue. Currently, solar energy contributes 20.7% of Brazil’s installed electricity capacity, making it the country’s second-largest energy source.

The country until November 27 has 279 plants in operation, of this total number of plants, 273 are renewable, being 134 solar and 114 wind, 8 Small Hydroelectric Plants, 2 Hydroelectric Generating Plants, and 15 Biomass Thermoelectric Plants. In 2016, Brazil’s installed capacity reached 9.5 GW. It took almost 5 years to double this. In 2023 alone added more capacity at 9.5 GW, as per the country’s shared data, in 2024, over 10 GW mark has already been crossed.

Factors Contributing To Brazil’s Renewable Energy Growth

The recent technological advancements, market growth in Brazil, declining costs, and the country’s abundant sunlight, combined with robust government subsidies, have created optimal conditions for solar energy. This progress was driven by technological innovations, market expansion, declining costs, and Brazil’s abundant sunlight, further supported by government subsidies, which have paved the way for the growth of solar energy.

Despite this progress, the sector has criticized the federal government for increasing the import tax on photovoltaic modules (solar panels) from 9.6% to 25% this month. According to the association, this measure hampers technological development in the country.

Hydro Dominates Brazil’s Renewable Energy Capacity

According to the EMBER report, among other G20 countries, Brazil’s success in reaching such a high share of renewables is primarily due to its robust hydroelectric base and the rapid expansion of solar and wind power in recent years. The share of hydro has fluctuated from year to year over the past decade amid varying weather conditions, standing at 60% of Brazil’s electricity in 2023 compared to 63% on average since 2013. Meanwhile, the share of wind and solar has been growing rapidly in recent years, reaching 21% in 2023, a substantial four percentage point increase from 17% in 2022, and up from just 5.8% in 2016. Brazil recorded the world’s second largest annual increase in wind and solar generation in 2023 (+36 TWh), behind only China.