Brazil's PV installed capacity is expected to exceed 11.9GW in 2022

    A recent forecast by the research institute suggests that the photovoltaic Solar Energy Systems Company industry will add more than 357,000 new jobs to Brazil in 2022. According to the assessment, private investment in the PV industry could exceed BRL 50.8 billion (~$9.85 billion) by 2022, including small and medium-sized PV systems (installed on roofs, building facades and ground) and utility-scale PV systems (large photovoltaic farms).

    According to the analysis, Brazil will deploy photovoltaic systems with an installed capacity of more than 11.9 GW in 2022, which will increase by more than 91.7% from the country's current installed photovoltaic capacity of 13 GW. From 2012 to the end of 2022, Brazil is expected to create more than 747,000 jobs cumulatively, including all value chain sectors.

    The majority of these jobs are expected to come from distributed generation systems, which will provide 251,000 jobs this year. Of the 50.8 billion reais planned for investment this year, 40.6 billion reais will be used for the deployment of distributed power generation systems.

    Compared with the cumulative installed capacity in 2021, the installed capacity of distributed generation systems is expected to increase by 105%, from 8.3GW to 17.2GW. The expected growth rate for utility-scale PV systems is 67.8%, from 4.6GW currently to 7.8GW.

    The agency also expects the Brazilian PV industry to bring in more than R$15.8 billion in net federal, state and municipal revenue this year. This helps to strengthen the public budget and provide better services to Brazil. This value reflects consumer savings on electricity bills, indicating the economic benefits brought by the PV industry.

    According to the report, this year may be the best year in the history of PV development in Brazil since 2012, and the fastest growing year for the PV market and industry in the past decade. According to the agency's analysis, self-generated electricity has grown by leaps and bounds as the recently ratified Law 14300/2022 will boost market demand. Additionally, the upward trend in electricity prices continues, putting pressure on consumers to seek solutions to lower their electricity bills.