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Solar Energy In Brazil Has Price Reduced By 5% In The 3rd Quarter Of 2024, With Cost Declines In Equipment. Central West Leads As The Cheapest Region.
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In recent months, solar energy has become even more accessible 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 trend has made solar energy an increasingly viable option for residential and commercial consumers. Notably, the Central West region has stood out as the area with the lowest cost for the implementation of solar systems.
With the reduction in costs, the adoption of solar energy has been expanding, reinforcing the transition to renewable energy sources in the country. This change is essential for a more sustainable and independent energy matrix. Moreover, 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. Such a scenario reflects a significant advance in awareness and utilization of renewable sources, benefiting both the environment and the local economy.
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Reduction In Solar Energy Costs
The comparison with the previous period reveals a price drop driven by the continued reduction in equipment costs, which continue to decline each quarter. This scenario was detailed in the Radar study, an indicator that quarterly analyzes the price of solar energy, conducted by Solfácil, known as the largest solar energy ecosystem in Latin America. The decrease was even more pronounced in projects with capacities 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 marks an important advance in a sector traditionally more resistant to price declines. The renewed and more accessible offer for large consumers becomes a relief and projects greater adherence 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 continuous reduction of costs, it is expected that more people will choose to invest in this economic and sustainable energy source’, highlights Fabio Carrara, CEO and founder of Solfácil.
States With The Greatest Cost Reductions In the ranking of states, Minas Gerais led with the largest price drop, recording an impressive reduction of 14%, resulting in R$ 2.70 per Wp. Sergipe had a notable reduction of 12%, with Goiás closely 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 trend, closing the quarter at R$ 2.35 per Wp. However, Rio Grande do Sul was the only state not to record a drop, remaining stable due to the impacts of floods that occurred in the second quarter.
Regional Prices Of Solar Energy
The stability in costs in the southern region, even with a slight decline of 3% in the quarter, established the region as one of the most expensive for solar energy, surpassed only by the North, which experienced a modest decrease of 3%. Data refers to the third quarter of 2024.
Source: Radar Solfácil Central West: Most Economic Region For Solar Energy The Central West has consolidated itself as the most economical region for installing solar energy in Brazil, with a significant price drop of 7% from one quarter to the next. The region distanced itself from the national average, with the price per Wp being R$ 0.12 lower than the rest of the country.
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, experiencing an 8% drop in the quarter. However, 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, at only 3%. The South, despite recording a 3% drop, has 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.
Brand Repositioning In Inverter Market The inverter market has undergone significant changes. Goodwe has surpassed Deye, becoming the most requested brand in solar financing requests across Brazil. Deye, traditionally strong in smaller systems, continues to dominate in this segment, but Goodwe is gaining ground in larger projects.
Additionally, Solis has shown growth in the market, surpassing Growatt and securing the third position among the most requested brands in the quarter.
Source: SOLFACIL Press
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