In a recent report, Brazilian consultancy Greener has revealed a 19% decrease in photovoltaic (PV) module imports during the first half of 2023, totaling 7.8 GW. While this figure is lower compared to the 9.6 GW imported during the same period in 2022, it represents a significant increase from the 4.8 GW imported in the first half of 2021.
Canadian Solar and JinkoSolar emerged as the top suppliers in the Brazilian PV market, exporting 1,291 MW and 1,214 MW, respectively, in the first half of the year. Following closely behind were Longi (759 MW), Risen (721 MW), JA Solar (594 MW), Sunova (589 MW), Eging (454 MW), Trina (365 MW), Osda (219 MW), and DAH Solar (203 MW). In a market boasting 74 active brands, these top 10 module suppliers collectively accounted for 85% of all PV module imports in Brazil.
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Greener's analysis suggests that the demand generated by large-scale solar projects counteracted the slowdown observed in the distributed-generation PV market from January to June, thereby mitigating the overall decline in imports. As a result, Greener estimates that the volume of imports recorded in the first half of the year is poised to drive investments exceeding BRL 25 billion (equivalent to $5.1 billion USD).
Despite the challenges faced by the Brazilian solar market in the first half of the year, including the decline in prices and a trend toward reduced interest rates, Greener Director Marcio Takata remains optimistic about the future. Takata remarked, “Despite the challenging first half of the year for the solar market, the drop in prices and the tendency to reduce interest rates bring a more favorable scenario for investment in own generation.”
