Latin America has seen rapid growth in photovoltaic power generation
Latin America will see 9.6 GW of new photovoltaic power installed in 2021, up 44%, according to the Global Market Outlook report released by the European Solar Energy Industry Association. By the end of 2021, the cumulative installed capacity of photovoltaic power generation in Latin America has exceeded 30 million kW, an increase of more than 40 times compared with 2015. It is expected that with the promotion of policies, the photovoltaic market in Latin America will continue to improve in the future. Before 2026, the installed photovoltaic power generation in the region will increase by 30.8 million kW per year.
According to the report, Latin America is expected to be among the top five global PV markets in the next five years. At present, about 25% of Latin America's energy supply comes from renewable sources, mainly hydropower and biomass power generation. As the need for emission reduction and economic recovery increases, the development of photovoltaic is becoming an important task for the region. Among them, Brazil, Colombia, Chile and other countries regard the development of renewable energy represented by photovoltaic as the main driving force for economic growth, and put forward green plans or related initiatives.
Brazil is the first country in Latin America to deploy renewable energy, such as through tenders for centralized photovoltaic power plants. In addition, distributed PV projects in Brazil have been enjoying preferential policies, including tax breaks and allowing owners to sell their surplus electricity online.
Rodrigo Lopes Sauaia, CEO of the Brazilian Solar Energy Association, said policy support is key to the continued expansion of the Brazilian PV market. Under Brazil's latest law, distributed PV projects commissioned by the end of 2022 will enjoy tax breaks until 2045.
Pv has become a popular choice in Brazil as electricity bills rise. "In Brazil, electricity prices have increased by 20-25% over the past year, and for end consumers choosing PV, there is no doubt that they will save a lot of money on overhead. This further enhances the competitiveness of PV." Rodrigo Lopes Sauaia.
According to the European Solar Energy Industry Association, Brazil will install 5 GW of new PV power in 2021. By the end of April this year, the cumulative installed capacity of photovoltaic power generation in Brazil has reached 15 million kilowatts. It is expected that in 2022, the newly installed capacity of photovoltaic power generation in Brazil will exceed 12 million kW, and the cumulative installed capacity of photovoltaic power generation will reach 25 million kW, showing explosive growth of the industry.
But as cumulative PV installations rise, Brazil is facing a lag in energy storage. Tenders for centralized PV plants in Brazil in 2021 have been scaled back. According to Rodrigo Opessauaia, the Brazilian industry has set up a working group to draw up a roadmap from legislation, regulation, taxation, technology and financing.
The PV market in Colombia, another big economy in Latin America, is also accelerating. Previously, a major constraint on the development of the photovoltaic industry in Colombia was the underdeveloped transmission network. In 2019, Colombia started the transformation and upgrading of the power grid. Now the market conditions have been improved to a certain extent, and energy companies are investing in photovoltaic projects.
Chile also has better radiation conditions. Up to now, the cumulative installed capacity of photovoltaic power generation in Chile has exceeded 3 million kW, and the newly installed capacity of photovoltaic power generation is about 500,000 kW annually, showing stable growth. The Chilean government plans to install at least 6 gigawatts of new renewable energy in order to meet its carbon reduction targets.
It is expected that, with the support of the Latin American market, the newly installed scale of global photovoltaic power generation will break the 200 million kW mark for the first time this year, creating a new record. By 2026, the European Solar Industry Association predicts that Latin America, and Brazil in particular, will be the world's leading market for new PV installations (News from guangfu.bjx.)
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