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According to a Solfácil survey, the fall is due to the reduction in the price of polysilicon. 2.76 reais ($0.54)/Wp is the lowest average price of solar energy ever recorded in the country.
The price of solar energy in Brazil fell 5% in the first quarter of 2024 compared to the fourth quarter of 2023. The new average value is 2.76 reais/Wp, the lowest price recorded since the beginning of the indicator Radar, a study by Solfácil that follows the evolution of solar energy prices in the country.
The drop in the cost of solar energy was driven by the drop in the price of polysilicon, the main raw material used in the production of solar panels. Although the price of the material did not drop significantly in the first quarter, the effects of the significant falls in 2023 continue to be felt in project prices.
The reduction in the average price of solar energy was observed in all regions of the country. The Center-West stood out as the region with the lowest average price, at 2.67 reais/Wp, which represents a drop of 3.61%. The Southeast is the second most economical region in the country to install solar energy, with a 4.86% reduction in the average price, which now stands at 2.74 reais/Wp, tied with the Northeast, which also has a cost average of 2.74 reais/Wp and fell 6.16% in the period.
Price of solar energy in Brazil in each state
The Southern Region has an average of 2.82 reais/Wp, with a reduction of 5.69%. The region offers favorable geographical conditions for investments in solar energy. The North, for its part, has the highest average price, reaching 2.93 reais/Wp with a drop of 3.93%.
“We are witnessing a historic moment for solar energy in Brazil. The price of solar energy in Brazil has never been more viable. We have seen frequent drops every quarter. The country already stands out as one of the main world powers in the implementation of solar energy projects, and with the continuous reduction of costs, the trend is that more people choose to invest in this source of sustainable energy,” says the advisor. delegate and founder of Solfácil, Fabio Carrara.
Solar energy price variations by state
The Solfácil study also revealed the states with the lowest costs for solar energy. Amapá and Rondônia continue to be the states with the lowest costs to install residential solar energy, followed by Santa Catarina, Amazonas and Paraná. Acre, on the other hand, is the only state that has not registered a price drop in the period analyzed. The largest reductions of the quarter were recorded in the Federal District. It is important to highlight that for smaller projects, up to 4 kWp, the price difference between regions can be greater, reaching 0.49 reais/Wp above the national average.
Most used inverter brands
Solfácil also analyzed the choice of inverter brands in different regions of Brazil. Growatt remains the top inverter brand in Brazil, according to the studys Q1 2024 data, but loses influence to Deye. On the other hand, Goodwe is gaining traction in smaller projects, while Solplanet is growing in larger plants. |
