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Solar Energy in Brazil Dropped 9% in the 1st Semester, According to Solfácil. The Biggest Drop Was Registered in Rio Grande do Sul. The Midwest Has the Most Affordable Average Price.
Solar energy in Brazil experienced a reduction of 9% in prices during the first semester of this year, according to Solfácil. In the second quarter alone, there was a 4% decrease, mainly driven by the drop in the price of polysilicon, the fundamental material in the manufacture of solar panels. In Rio Grande do Sul, the largest price reduction was recorded, reflecting the dynamics of the solar energy market in different regions of the country.
On a national level, the Midwest stood out for having the most affordable average price for the installation of solar energy systems. In addition to being a source of renewable energy, photovoltaic technology has proven to be increasingly competitive and attractive for residential consumers. Solfácil continues to monitor these trends and provide solutions to facilitate access to clean energy, benefiting both consumers and the environment.
Solar Energy Price Indicator
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The average price per watt-peak (Wp), which was R$ 2.92 in the last quarter of 2023, underwent a significant drop, reaching R$ 2.66 per Wp in the second quarter of this year. The reduction in prices was predominantly influenced by the decrease in the cost of polysilicon, an essential component in the production of solar panels. During the second quarter, this reduction was 4%.
Price Reduction and Power Ranges
The latest data, referring to the second quarter of the year, show that this price reduction was observed across all power ranges, from 2-4 kWp to projects exceeding 15 kWp. ‘We are facing a historic moment for solar energy in Brazil. The cost of solar energy has never been more accessible,’ says Fabio Carrara, CEO and founder of Solfácil. ‘We are seeing constant reductions each quarter, consolidating Brazil as a global power in the adoption of solar energy. With the continuous drop in prices, we expect more people to choose to invest in this clean and renewable source.’ This data is from the second quarter of 2024.
Price Drops by Brazilian States
Most Brazilian states recorded a drop in solar energy prices in the second quarter, except for Minas Gerais, which did not follow this trend. The most significant drops were observed in Rio Grande do Sul, where the price per Wp decreased to R$ 2.67, and in Roraima, with a drop to R$ 2.34 per Wp, representing a decrease of 15% compared to the first quarter.
Rondônia, with R$ 2.30 per Wp, recorded a drop of 9%, while Roraima was highlighted as the state with the lowest cost for residential solar energy installation, followed by Amapá with R$ 2.36 per Wp (a drop of 3%), Acre with R$ 2.47 per Wp (a drop of 10%), and Mato Grosso with R$ 2.49 per Wp (a drop of 7%). See the ranking of states: Comparison of the first and second quarters of 2024. Source: Radar Solfácil.
Average Price of Solar Energy in Brazil’s Regions
Regionally, the Midwest remains the most affordable area for investments in solar energy, with an average cost of R$ 2.58 per Wp, and a reduction of 3% between quarters. The Northeast had the second-largest price reduction, with a value of R$ 2.62 per Wp, a 5% drop below the national average. This reduction, along with favorable geographic conditions, makes it an attractive location for investments in residential solar energy.
Analysis of the South and North Regions
The South region also had a substantial price drop of 9%, reaching R$ 2.60 per Wp, which solidifies it as the second cheapest region in the country for the installation of solar energy systems. On the other hand, the North is still the most expensive region for solar energy installation, despite a price drop greater than the national average. The cost in the region is R$ 2.79 per Wp, with a 5% reduction in prices.
The Southeast region recorded the smallest price reduction among all regions in Brazil, with an average of R$ 2.74 per Wp and a decrease of only 1% from one quarter to another. This result was influenced by the performance of Minas Gerais, which was the only state not to show a decrease in prices.
Most Used Inverter Brands
Solfácil also conducted an analysis of preferences for inverter brands in different regions of Brazil. The brands Deye and Goodwe outperformed Growatt and became the most popular in solar energy project requests. In lower power projects, Deye has stood out, while Goodwe is more sought after for higher power projects.
About Solfácil
Solfácil
Solfácil, founded in 2018, offers a range of services that includes financing, distribution of solar equipment, solar energy monitoring systems, insurance, and a benefits program for integrators seeking to maximize their profits. The company has the support of major investment funds, such as QED Investors, SoftBank Group, Valor, and the World Bank (IFC), which have already invested over 800 million reais in three funding rounds.
Environmental Impact of Solfácil
Solfácil operates throughout the national territory and, since its founding, has already prevented the emission of more than 88,600 tons of CO2 into the atmosphere, equivalent to what would be absorbed by more than 354,000 trees over 20 years.
Source: © Ana Claudia Silva
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