Will a fee be applied for solar energy in Brazil?

However, Brazil's electricity regulator, Agência Nacional de Energia Elétrica (ANEEL), proposed to apply a fee for solar systems with up to 5 MW of power generation capacity. Further, installing other renewable energy sources such as wind, hydro, and others is expected to hinder the market's growth during the forecast period.

How many solar energy systems will Brazil have by 2024?

The country expects to have 1.2 million solar power generation systems by 2024. With its net-meter policy and decreasing solar energy cost, Brazil's solar energy is anticipated to increase during the forecast period. Brazil is one of the most advanced countries in South America with respect to the development of renewable energies.

Which country has the highest installed capacity from photovoltaic solar?

São Paulo, March 2023 – According to the Brazilian Photovoltaic Solar Energy Association (ABSOLAR), based on the data of the International Renewable Energy Agency (IRENA) release, Brazil entered, for the first time, on the list of the top ten countries with the highest accumulated installed capacity from photovoltaic solar source.

Is Brazil a good country for solar energy?

Brazil is one of the most advanced countries in South America with respect to the development of renewable energies. The country has excellent solar radiation levels, as it is in a latitude range in which the incidence of solar radiation is much higher than in the rest of the world.

Does Brazil need solar power?

However, Brazil's demand for electricity is mainly from the eastern coast that relies primarily on hydropower, which could be insufficient to fulfill the ring electricity demand during the coming years. According IRENA, Brazil's total installed solar energy capacity reached around 24.08 GW in 2022 increased from around 14.19 GW in 2021.

How big is Brazil's solar sector in 2022?

According to the mapping, Brazil's eighth position is the result of around 10 gigawatts (GW) added in the year 2022. As a result, last year alone, the solar sector attracted more than R$ 45.7 billion in new investments, growth of 64% in relation to the financial values accumulated until the end of 2021 in the country.