PV sector will bring more than R$ 22.6 billion in new investments and a revenue of more than R$ 6.7 billion this year
São Paulo, January 2021 – Projections from the Brazilian Solar Photovoltaic Energy Association (ABSOLAR) indicate that solar photovoltaic will generate more than 147,000 new Brazilian jobs in 2021, spread across the country. According to the entity’s assessment, the new private investments in the sector could exceed the amount of R$ 22.6 billion in 2021, including both small and medium-scale systems (installed on roofs, facades and ground mounted) and utility scale systems (large-scale plants).
According to ABSOLAR’s analysis, more than 4.9 gigawatts (GW) of installed power will be added. This will represent a growth of more than 68% over the current solar PV installed capacity in the country, presently at 7.5 GW. The prospects are that 2021 will end with a cumulative amount of more than 377,000 jobs generated since 2012, including all value chain segments.
The largest share of these jobs is expected to come from the distributed generation segment, which will account for more than 118,000 jobs this year. Distributed generation will correspond to R$ 17.2 billion out of the R$ 22.6 billion investments planned for this year.
Distributed generation has a projected growth of 90% compared to the cumulative installed capacity of 2020, increasing from 4.4 GW to 8.3 GW. The expected growth in the utility scale segment will be 37%, from the current 3.1 GW to 4.2 GW.
The entity also projects that the Brazilian solar photovoltaic sector will be responsible for a net increase in federal, state and municipal government revenues of more than R$ 6.7 billion this year. This contributes to the strengthening of public budgets and the provision of better services to Brazilian society. The value already accounts for the savings of consumers in their electricity bills, showing that the economic benefit of the sector also favors the government.
Ronaldo Koloszuk, ABSOLAR’s president of the Board of Administrators, states that solar energy is strategic to accelerating the sustainable economic recovery of Brazil, strengthening the competitiveness and sustainability of the country. “Solar photovoltaic energy reduces the cost of electricity for the population, increases the competitiveness of companies and relieves the government’s budget, benefiting small, medium and large consumers in the country,” he stresses.
“This will be a shiny year for the Brazilian solar photovoltaic market. Solar is the most competitive renewable source in the country and a real lever for economic, social and environmental development, through job and income generation, attraction of investments, diversification of the electricity matrix and systemic benefits to all Brazilian consumers. Brazil has everything to gain from the source and is advancing to become a great world leader in this sector, increasingly strategic in the world”, highlights the CEO of ABSOLAR, Rodrigo Sauaia.
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