Solar PV reaches 24 gigawatts and exceeds BRL 121.6 billion in investments in Brazil, ABSOLAR reports

Since 2012, more than 720,000 jobs have been created, and 33.4 million tons of CO2 emissions have been avoided.

São Paulo, January 2023 – With 24 gigawatts (GW), Solar PV reached a new milestone in Brazil. All combined, large-scale power plants, and self-generation systems, account for 11.2% of installed power in the country.

The Brazilian Association of Photovoltaic Solar Energy (ABSOLAR) reports that, in a single year, Solar PV soared almost 70%, from 14.2 GW to 24 GW. At an average pace of 1GW per month, the installed power has grown from 16.4 GW in July 2022 to 24 GW in January 2023.

Since 2012, the solar source has brought about R$ 121.6 billion in new investments and created more than 720,000 jobs in the country.  More than 33.4 million tons of CO2 emissions have been avoided, and BRL 38.2 billion were collected to the public coffers.

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.

“Brazil has finally woken to the potential and benefits of solar PV. The source diversifies the country's electricity supply, reduces the pressure on water resources, and helps to contain further increases in the electricity bill”, Mr. Sauaia adds.

There is about 7.6 GW of installed power in large-scale solar plants. In the last decade, the large solar plants have brought over BRL 33.9 billion in new investments and contributed more than BRL 11.8 billion to the public coffers. In addition, more than 228,000 jobs have been created.

When it comes to self-generation, there is 16.4 GW of installed power. Since 2012, over BRL 87.7 billion has been invested, and more than 491,000 jobs have been created. Across the country, solar PV is the technology of choice in 99.9% of all self-generation connections.

“The expansion of solar PV is a global trend driven by high electricity prices, technology affordability, and access to financing. Brazil has one of the best solar resources on earth; however, there is yet a lack of good public

policies so that the country can exercise its full potential”, concludes Ronaldo Koloszuk, Chairman of the Board of Directors of ABSOLAR.

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]