Photovoltaic solar energy in Brazil becomes cheaper by 31% in one year

The average price of photovoltaic solar energy in Brazil fell 31% the previous year compared to 2022. This is indicated by the Radar Solfácil study.

The value, which was R$ 4.22 per Wp in the last quarter of 2022, fell to R$ 2.91 per Wp in the last quarter of 2023.

The reduction was motivated by the fall in the price of solar equipment, the dollar and freight imports. Only in the last quarter of last year the reduction was 8%.

All states in Brazil recorded a drop in the average price of solar energy last year. According to the indicator, the states with the greatest falls were: Sergipe (39%), Alagoas (35%), Paraíba (33%), Rio Grande do Norte (32%) and Maranhão (32%).

In the Northern region, the average value recorded at the end of 2023 was R$ 3.5 Wp per installed power. The value is lower compared to the end of 2022, which was R$ 4.31 Wp, a reduction of 29%.

In the Northeast region, the average value reached R$ 2.92 Wp at the end of last year, a reduction of 31.7%, which was previously R$ 4.26 Wp, compared to 2022.

The study states that, even with the national average price, geographical conditions make the Northeast one of the most advantageous regions to invest in solar energy.

The Center-West region, at the end of 2023, presented an average value of installed power of R$ 2.77 Wp, a reduction of 32% compared to 2022, when it was R$ 4.07 Wp. According to Solfácil, it is the region with the cheapest average price in Brazil.

The Southeast region continues to be the second cheapest region in Brazil, with an average price per installed power of R$ 2.88 Wp in 2023. The region had a price reduction of 31% compared to 2022, before R$ 4 .20 Wp.

The South recorded an average value of R$ 2.99 Wp per installed power. In relation to the year 2022, which was R$ 4.15 Wp, the region registered a reduction of 28%.
For Fabio Carrara, CEO and founder of Solfácil, the reduction in solar energy prices is good news for Brazilian consumers, who are facing rising electricity prices.

According to him, with more affordable prices, more people will be able to adopt solar energy as a clean and economical source. “Having a solar energy system at home has never been so viable. Solar equipment prices have been falling rapidly in recent months,” he stated.

Yvana Leitão