Brazil Solar Energy Market: Market Size & Forecast 2026

Brazil is one of the world's leading solar PV markets, with installed capacity already in the tens of gigawatts and rapid additions underway each year. Brazilian installed solar capacity reached 14.5 GW of new additions in 2025, taking cumulative capacity into the mid-tens of gigawatts as tracked by official energy agencies such as EPE and ANEEL. The market benefits from abundant solar irradiation, particularly in the Northeast region, and a regulated framework that supports both centralized and distributed solar.

• •Market valued at USD 2.49 billion in 2025, projected to reach USD 13.19 billion by 2034
• •Brazil added 14.5 GW of new solar capacity in 2025, per SolarPower Europe
• •Official capacity metrics published by EPE and ANEEL rather than revenue figures

Cost declines in solar modules and balance-of-system components continue to make PV the cheapest source of new capacity in Brazil's auctions. Regulatory reforms in the electricity sector, expanded net-metering compensation for distributed generation, and corporate renewable power purchase agreements are accelerating deployment across both utility and commercial segments. Strong solar irradiation, particularly across the Northeast and Southeast, combined with growing grid infrastructure investment, further supports the 20.35% CAGR outlook.

• •Falling PV module and balance-of-system costs versus alternatives
• •2025 electricity sector reforms and supportive net-metering rules
• •Abundant solar resources, especially in Northeast Brazil

The market splits between centralized utility-scale generation and distributed generation (residential, commercial and industrial rooftop and ground-mounted systems), with utility-scale projects historically accounting for the bulk of installed capacity and distributed generation expanding rapidly under net-metering. Bifacial modules and emerging perovskite cell technologies represent subsegments with distinct growth trajectories. Geographically, the Northeast region leads in utility-scale solar thanks to high irradiation, while Southeast and South regions dominate distributed generation tied to demand centers.

• •Bifacial solar segment valued at over USD 391.9 million in 2024, growing at ~16.1% CAGR to 2030
• •Perovskite solar cell niche segment forecast to reach USD 175.4 million by 2030
• •Northeast Brazil leads utility-scale solar deployment; Southeast and South lead distributed generation

What are the recent trends and outlook?

Looking toward 2030 and 2034, capacity build-out is expected to continue at double-digit annual rates, supported by the country's broader decarbonization targets and corporate clean energy demand. Emerging technology segments such as bifacial modules and perovskite cells are set to outpace conventional silicon modules in growth rate, while energy storage integration with solar is becoming more common in new utility tenders. Overall, Brazil is positioned to remain the dominant solar market in Latin America, with policy stability, cost competitiveness, and grid expansion as the key variables shaping the 20.35% CAGR outlook.

• •Capacity forecast to reach 164.9 GW by 2034, implying double-digit annual additions
• •Bifacial and perovskite modules among fastest-growing technology subsegments
• •Solar plus storage increasingly bundled in new utility tenders