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Solar energy in Brazil has a 5% reduction in price in the 3rd quarter of 2024, with a drop in equipment costs. The Central-West region leads as the cheapest region.
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In recent months, the solar energy has become even more affordable in Brazil, with a 5% decline in prices during the third quarter of 2024. The drop was significantly influenced by the decrease in equipment costs, especially in systems above 15 kWp, where prices fell by up to 10%. This movement has made solar energy an increasingly viable option for residential and commercial consumers. Notably, the Central-West region stood out as the lowest cost area for the implementation of solar systems.
With the reduction in costs, the adoption of solar energy has been expanding, reinforcing the transition to sources of renewable energy in the country. This change is essential for a more sustainable and independent energy matrix. Furthermore, distributed generation, which allows consumers to generate their own electricity, has received a boost, facilitating the decentralization of energy production and contributing to the reduction of carbon emissions. This scenario reflects a significant advance in the awareness and use of renewable sources, benefiting both the environment and the local economy.
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Reduction in Solar Energy Costs
Comparison with the previous period reveals a fall in prices driven by the continuous reduction in equipment costs, which continue to decline every quarter. This scenario was detailed in the study Radar, an indicator that analyzes the price of solar energy, carried out by Soleasy, known as the largest solar energy ecosystem in Latin America. The decrease was even more notable in projects with capacity above 15 kWp, which showed a 10% reduction.
This segment, serving companies and industries, now has costs of R$ 2,28 per Wp. This significant change marked an important advance in a sector that is traditionally more resistant to price drop. The renewed and more accessible offer for large consumers becomes a relief and projects greater adoption of new ventures in the corporate field. 'We are experiencing a remarkable period in solar energy in Brazil.
Distributed Generation on the Rise
The cost associated with distributed generation has never been lower. Brazil already stands out as one of the largest solar markets in the world and, with the continued reduction in costs, more people are expected to opt for it. invest In this economic source and sustainable energy', highlights Fabio Carrara, CEO and founder of Solfácil.
States with the Greatest Cost Reductions In the state ranking, Minas Gerais led with the biggest drop in prices, registering an impressive 14% reduction, resulting in R$2,70 per Wp. Sergipe had a notable reduction of 12%, with Goiás close behind, registering a 10% drop and reaching R$2,46 per Wp.
In São Paulo, the decrease reached 8%, resulting in R$2,43/Wp, while Alagoas followed the same trajectory, closing the quarter with R$2,35 per Wp. However, Rio Grande do Sul was the only state not to record a decrease, remaining stable due to the impacts of the floods that occurred in the second quarter.
Regional Solar Energy Prices
The stability of costs in the southern region, even with a slight drop of 3% in the quarter, established the region as one of the most expensive for solar energy, surpassed only by the North, which had a timid reduction of 3%. Data refers to the third quarter of 2024.
The Northeast recorded the second largest price drop in the country, with a 5% reduction compared to the second quarter of 2024. The Southeast stood out with the largest price reduction, with an 8% drop in the quarter. However, the North and South remain the most expensive regions for solar energy.
Trends in Inverter Brands
In the North, the reduction was the smallest among the Brazilian regions, only 3%. The South, despite registering a 3% drop, also established itself as the second most expensive region for solar energy in Brazil, surpassed only by the North. The stabilization of prices in Rio Grande do Sul, due to the floods, prevented a more pronounced reduction in the region.
Repositioning of Inverter Brands The inverter market has undergone significant changes. Goodwe has surpassed Deye to become the most requested brand for solar financing applications across Brazil. Deye, traditionally strong in smaller systems, continues to dominate this segment, but Goodwe is gaining ground in larger projects.
In addition, Solis demonstrated growth in the market, surpassing Growatt and taking third place among the most requested brands in the quarter.
Source: SOLFACIL Press
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