Brazil's fiery renewable energy market should break new capacity records again in 2022, as demand for rooftop PV systems surges from homeowners and businesses.
Brazil will almost double its new wind and photovoltaic capacity in 2021 to 10.3GW. The market will grow another 40% to 14.4GW in 2022.
Booming small-scale PV projects account for nearly half of the 5GW of new capacity added in 2021. Wind power growth is also very impressive, with 3.6GW of new installed capacity, almost triple the 2020 figure. Large-scale ground-mounted PV added a record 1.7GW, thanks to demand from an "unregulated" market of corporate power buyers.
Brazil's abundance of solar energy, coupled with policies that allow system owners to sell surplus electricity back to the grid, has led to a surge in demand for small-scale PV. Small photovoltaics will add another 9GW of capacity this year, and then the market will cool in 2023 as policy incentives weaken