Brazil Solar Energy Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Solar Energy Market in Brazil is segmented by Technology (Solar PV and Concentrated Solar Power (CSP).

Brazil Solar Energy Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Brazil Solar Energy Market Size

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Brazil Solar Energy Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 23.30 %
Market Concentration Low

Major Players

Brazil Solar Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Brazil Solar Energy Market Analysis

The Brazil Solar Energy Market is expected to register a CAGR of 23.3% during the forecast period.

  • Over the medium term, factors like government initiatives, like net metering, promote renewable energy, stabilize the growing carbon footprint, and have a sustainable form of energy. Also, net metering helped customers get credits on the bills by selling excess electricity produced to the grid.
  • 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.
  • Under its latest plan, Plano Decenal de Expansão de Energia (PDEE) 2027, Brazil is expected to increase its non-hydro renewable energy to 28% of its electricity generation mix by 2027. Utility-scale projects and distributed solar generation projects are expected to be rolled out under various auctions, which is expected to create an opportunity for the market to grow in the future.

Brazil Solar Energy Industry Overview

The Brazilian solar energy market is fragmented. Some of the key players in the market (not in particular order) include JinkoSolar Holding Co. Ltd, Yingli Green Energy Holding Co. Ltd, Canadian Solar Inc., Engie SA, Scatec Solar ASA, JA Solar Holdings Co. Ltd, Enel SpA, NextTracker Inc., and Solar Provider Group (SPG).

Brazil Solar Energy Market Leaders

  1. Canadian Solar Inc.

  2. Engie SA

  3. Scatec Solar ASA

  4. Yingli Green Energy Holding Co. Ltd

  5. JinkoSolar Holding Co. Ltd

  6. *Disclaimer: Major Players sorted in no particular order
Brazil Solar Energy Market Concentration
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Brazil Solar Energy Market News

  • In June 2023, the European Investment Bank (EIB) has provided a loan of USD 213 million (EUR 200 million) loan to a cooperative financial institution in Brazil, Sicredi for investments in solar energy. Sicredi will use the funding to establish solar photovoltaic (PV) panels in individual homes, small and medium businesses, and rural properties in Brazil.
  • In August 2022, a subsidiary of Exus Management Partners, Exus Brasil Investimentos, announced a contract to acquire 100% of the shares of Riacho da Serra Energia S.A., and the assets related to projects, from Decal Renewables and Upside Value. The portfolio consisting of 20 solar parks and this project shall have a total installed capacity exceeding 1GW already granted by ANEEL.

Brazil Solar Energy Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Solar Power Installed Capacity and Forecast in GW, till 2028
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.1.1 Increasing Demand for Renewable Energy Generation
    • 4.5.1.2 Rapidly Growing Demand for Net Metering of Bills
    • 4.5.2 Restraints
    • 4.5.2.1 Applicable Fee for Solar Systems with up to 5 MW by ANEEL
  • 4.6 Supply Chain Analysis
  • 4.7 PESTLE Analysis

5. MARKET SEGMENTATION

  • 5.1 Technology
    • 5.1.1 Solar PV
    • 5.1.2 Concentrated Solar Power (CSP)

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 JinkoSolar Holding Co. Ltd
    • 6.3.2 Yingli Green Energy Holding Co. Ltd
    • 6.3.3 Canadian Solar Inc.
    • 6.3.4 Engie SA
    • 6.3.5 Scatec Solar ASA
    • 6.3.6 JA Solar Holdings Co. Ltd
    • 6.3.7 Enel SpA
    • 6.3.8 NextTracker Inc.
    • 6.3.9 Solar Provider Group (SPG)
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Government Innitiatives to Increase Non-hydro Energy Sources
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Brazil Solar Energy Industry Segmentation

Solar energy is heat and radiant light from the Sun that can be harnessed with technologies such as solar power (which is used to generate electricity) and solar thermal energy (which is used for applications such as water heating). 

The Brazil solar energy market is segmented by technology and geography. By technology, the market is segmented into solar photovoltaic (PV) and concentrated solar power (CSP). The report also covers the market size and forecasts for the solar energy market across major regions. For each segment, the market sizing and forecasts have been done based on installed capacity (MW).

Technology Solar PV
Concentrated Solar Power (CSP)
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Brazil Solar Energy Market Research FAQs

What is the current Brazil Solar Energy Market size?

The Brazil Solar Energy Market is projected to register a CAGR of 23.30% during the forecast period (2025-2030)

Who are the key players in Brazil Solar Energy Market?

Canadian Solar Inc., Engie SA, Scatec Solar ASA, Yingli Green Energy Holding Co. Ltd and JinkoSolar Holding Co. Ltd are the major companies operating in the Brazil Solar Energy Market.

What years does this Brazil Solar Energy Market cover?

The report covers the Brazil Solar Energy Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Brazil Solar Energy Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Brazil Solar Energy Industry Report

The Solar Energy Market in Brazil is segmented by Technology (Solar PV and Concentrated Solar Power (CSP). The Brazil solar energy market is poised for significant growth, driven by a strong focus on decarbonization, climate change mitigation, and energy diversification. The market is segmented into solar photovoltaic (PV) and concentrated solar power (CSP) technologies, with solar PV leading the charge due to its cost-effectiveness and widespread adoption. The declining cost of solar technology, coupled with advancements in energy storage systems like lithium-ion batteries, is enhancing the reliability and grid integration of solar power. This decentralization of power generation is creating opportunities for prosumers to contribute surplus energy back into the grid. Additionally, the increasing emphasis on environmental sustainability and corporate social responsibility is driving businesses to adopt solar energy solutions, further bolstering market growth. The competitive landscape in the Brazil solar power market is dynamic, with various strategies and innovations shaping the market, ensuring a robust and sustainable energy future for Brazil. Solar energy in Brazil is becoming a key focus for solar energy companies, which are leveraging these trends to expand their footprint and drive the market forward. Statistics for the Brazil solar energy market share, size, revenue growth rate and forecast outlook provided by Mordor Intelligence™ Industry Reports. Get a sample of this industry analysis as a free report PDF download.