Rapid growth of photovoltaic power generation in Latin America

    Brazil is the first country in Latin America to deploy renewable energy through bidding for centralized photovoltaic Solar Generator House power plants. In addition, distributed photovoltaic projects have always enjoyed preferential policies in Brazil, including tax reductions and allowing owners to sell surplus electricity online.

    Rodrigo Lopes Sauaia, CEO of the Brazilian Solar Energy Association, said that policy support is the key to the continued expansion of the Brazilian PV market. According to Brazil's latest law, distributed photovoltaic projects put into operation before the end of 2022 will enjoy tax reductions until 2045.

    Photovoltaics has become a popular choice for electricity consumption in Brazil amid soaring electricity bills. "In the past year, electricity prices in Brazil have increased by 20% to 25%, which will undoubtedly save a lot of daily expenses for end consumers who choose photovoltaics. This further enhances the competitiveness of photovoltaic power generation." Rodrigo Lopes Sauaia said.

    Statistics from the European Solar Energy Industry Association show that in 2021, the newly installed capacity of photovoltaic power generation in Brazil will reach 5 million kilowatts. As of the end of April this year, the cumulative installed capacity of photovoltaic power generation in Brazil has reached 15 million kilowatts. It is estimated that in 2022, the newly installed capacity of photovoltaic power generation in Brazil will exceed 12 million kilowatts, and the cumulative installed capacity of photovoltaic power generation will reach 25 million kilowatts, indicating an explosive growth of the industry.