According to the Brazilian Solar Photovoltaic Energy Association (ABSOLAR), flow of private investments in solar power are expected to cross $4.29 billion in the year 2021. The association expected the addition of more than 4.9 GW of installed power. This would translate to a growth of more than 68 per compared to Brazil’s present installed capacity of 7.5 GW.

The investments are expected to contribute to distributed and rooftop solar segments as well as to large-scale utility-scale solar projects. ABSOLAR projects a growth of 90 per cent distributed for distributed solar compared to the capacity installed by 2020, with an expected increase from 4.4 GW to 8.3 GW. Meanwhile the large solar segment is expected to grow by 37 per cent, growing from the current 3.1 GW to 4.2 GW.

The segment is also expected to create more than 147 thousand new jobs in 2021 across Brazil. Most of these jobs are expected to come from the distributed generation segment, which will account for more than 118,000 jobs. According to ABSOLAR, the Brazilian photovoltaic solar sector will be responsible for a net increase in the collection of federal, state and municipal governments of more than R$6.7 billion this year. This will help in strengthening of public budgets and in the provision of better services for Brazilian society. It will also help the consumers save on their electricity bills.