Brazil Solar Power Market Size (2025–2029)
The Brazil solar power market is projected to grow by USD 7.27 billion, expanding at a CAGR of 13.5% from 2024 to 2029. This growth is propelled by favorable solar irradiation, the increasing deployment of floating solar plants, and Brazil’s ongoing shift toward renewable energy to reduce carbon emissions. However, regulatory inconsistencies and supply chain disruptions continue to hinder the market’s full potential.
Market Drivers
- Favorable Climate: Brazil’s high solar irradiation supports strong solar power generation.
- Government Support: Policy incentives, tax benefits, and carbon reduction commitments are accelerating adoption.
- Rising Demand: Utility-scale and rooftop solar installations are expanding, supported by distributed generation and financing options.
- Technological Advancements: Innovations in thin-film PV modules, perovskite solar cells, and AI-powered energy systems enhance efficiency and affordability.
Key Trends
- Floating Solar Plants: Maximizing power output while conserving land use.
- Hybrid and Smart Systems: Integration of smart grids, hybrid inverters, and energy trading platforms.
- Residential & Distributed Generation: Surge in rooftop solar installations aided by net metering and passive solar designs.
- New Applications: Solar-powered agriculture, desalination, EV charging, and thermal storage solutions are expanding use cases.
Challenges
- Regulatory Barriers: Varying government policies and inconsistent subsidies create uncertainty.
- Competition from Other Renewables: Hydropower and wind offer alternatives with region-specific advantages.
- High Upfront Costs: Capital investment remains a concern, especially for large-scale solar farms.
- Grid Integration & Intermittency: Efficient energy storage and grid modernization are essential to manage supply fluctuations.
Competitive Landscape
Leading players are adopting strategies like M&As, geographic expansion, and innovation-driven product launches to strengthen market position. Key players include:
- Canadian Solar Inc.
- Enel Spa
- ENGIE SA
- First Solar Inc.
- JinkoSolar Holding Co. Ltd.
- Trina Solar Co. Ltd.
- Tata Power Co. Ltd.
- TotalEnergies SE
- Yingli Solar, among others.
Companies are analyzed on qualitative parameters (focus, diversification) and quantitative metrics (market strength, growth potential).
Table of Content
1 Executive Summary
1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Country Market Characteristics
- Executive Summary - Chart on Market Segmentation by Application
- Executive Summary - Chart on Market Segmentation by End-user
- Executive Summary - Chart on Market Segmentation by Technology
- Executive Summary - Chart on Company Market Positioning
2 Technavio Analysis
2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
2.2 Criticality of inputs and Factors of differentiation
- Overview on criticality of inputs and factors of differentiation
2.3 Factors of disruption
- Overview on factors of disruption
2.4 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029
3 Market Landscape
3.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market
3.2 Market characteristics
- Market characteristics analysis
3.3 Value chain analysis
4 Market Sizing
4.1 Market definition
- Offerings of companies included in the market definition
4.2 Market segment analysis
4.3 Market size 2024
4.4 Market outlook: Forecast for 2024-2029
- Chart on Brazil - Market size and forecast 2024-2029 ($ million)
- Data Table on Brazil - Market size and forecast 2024-2029 ($ million)
- Chart on Brazil: Year-over-year growth 2024-2029 (%)
- Data Table on Brazil: Year-over-year growth 2024-2029 (%)
5 Historic Market Size
5.1 Solar Power Market in Brazil 2019 - 2023
- Historic Market Size - Data Table on Solar Power Market in Brazil 2019 - 2023 ($ million)
5.2 Application segment analysis 2019 - 2023
- Historic Market Size - Application Segment 2019 - 2023 ($ million)
5.3 End-user segment analysis 2019 - 2023
- Historic Market Size - End-user Segment 2019 - 2023 ($ million)
5.4 Technology segment analysis 2019 - 2023
- Historic Market Size - Technology Segment 2019 - 2023 ($ million)
6 Qualitative Analysis
6.1 Impact of AI in solar power market in Brazil
7 Five Forces Analysis
7.1 Five forces summary
- Five forces analysis - Comparison between 2024 and 2029
7.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2024 and 2029
7.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2024 and 2029
7.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2024 and 2029
7.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2024 and 2029
7.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2024 and 2029
7.7 Market condition
- Chart on Market condition - Five forces 2024 and 2029
8 Market Segmentation by Application
8.1 Market segments
- Chart on Application - Market share 2024-2029 (%)
- Data Table on Application - Market share 2024-2029 (%)
8.2 Comparison by Application
- Chart on Comparison by Application
- Data Table on Comparison by Application
8.3 Grid-connected - Market size and forecast 2024-2029
- Chart on Grid-connected - Market size and forecast 2024-2029 ($ million)
- Data Table on Grid-connected - Market size and forecast 2024-2029 ($ million)
- Chart on Grid-connected - Year-over-year growth 2024-2029 (%)
- Data Table on Grid-connected - Year-over-year growth 2024-2029 (%)
8.4 Off-grid - Market size and forecast 2024-2029
- Chart on Off-grid - Market size and forecast 2024-2029 ($ million)
- Data Table on Off-grid - Market size and forecast 2024-2029 ($ million)
- Chart on Off-grid - Year-over-year growth 2024-2029 (%)
- Data Table on Off-grid - Year-over-year growth 2024-2029 (%)
8.5 Market opportunity by Application
- Market opportunity by Application ($ million)
- Data Table on Market opportunity by Application ($ million)
9 Market Segmentation by End-user
9.1 Market segments
- Chart on End-user - Market share 2024-2029 (%)
- Data Table on End-user - Market share 2024-2029 (%)
9.2 Comparison by End-user
- Chart on Comparison by End-user
- Data Table on Comparison by End-user
9.3 Utility - Market size and forecast 2024-2029
- Chart on Utility - Market size and forecast 2024-2029 ($ million)
- Data Table on Utility - Market size and forecast 2024-2029 ($ million)
- Chart on Utility - Year-over-year growth 2024-2029 (%)
- Data Table on Utility - Year-over-year growth 2024-2029 (%)
9.4 Rooftop - Market size and forecast 2024-2029
- Chart on Rooftop - Market size and forecast 2024-2029 ($ million)
- Data Table on Rooftop - Market size and forecast 2024-2029 ($ million)
- Chart on Rooftop - Year-over-year growth 2024-2029 (%)
- Data Table on Rooftop - Year-over-year growth 2024-2029 (%)
9.5 Market opportunity by End-user
- Market opportunity by End-user ($ million)
- Data Table on Market opportunity by End-user ($ million)
10 Market Segmentation by Technology
10.1 Market segments
- Chart on Technology - Market share 2024-2029 (%)
- Data Table on Technology - Market share 2024-2029 (%)
10.2 Comparison by Technology
- Chart on Comparison by Technology
- Data Table on Comparison by Technology
10.3 Photovoltaic systems - Market size and forecast 2024-2029
- Chart on Photovoltaic systems - Market size and forecast 2024-2029 ($ million)
- Data Table on Photovoltaic systems - Market size and forecast 2024-2029 ($ million)
- Chart on Photovoltaic systems - Year-over-year growth 2024-2029 (%)
- Data Table on Photovoltaic systems - Year-over-year growth 2024-2029 (%)
10.4 Concentrated solar power systems - Market size and forecast 2024-2029
- Chart on Concentrated solar power systems - Market size and forecast 2024-2029 ($ million)
- Data Table on Concentrated solar power systems - Market size and forecast 2024-2029 ($ million)
- Chart on Concentrated solar power systems - Year-over-year growth 2024-2029 (%)
- Data Table on Concentrated solar power systems - Year-over-year growth 2024-2029 (%)
10.5 Market opportunity by Technology
- Market opportunity by Technology ($ million)
- Data Table on Market opportunity by Technology ($ million)
11 Customer Landscape
11.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
12 Drivers, Challenges, and Opportunity/Restraints
12.1 Market drivers
12.2 Market challenges
12.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029
12.4 Market opportunities/restraints
13 Competitive Landscape
13.1 Overview
13.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
13.3 Landscape disruption
- Overview on factors of disruption
13.4 Industry risks
- Impact of key risks on business
14 Competitive Analysis
14.1 Companies profiled
14.2 Company ranking index
14.3 Market positioning of companies
- Matrix on companies position and classification
14.4 Canadian Solar Inc.
- Canadian Solar Inc. - Overview
- Canadian Solar Inc. - Business segments
- Canadian Solar Inc. - Key news
- Canadian Solar Inc. - Key offerings
- Canadian Solar Inc. - Segment focus
- SWOT
14.5 Cox Energy SAB de CV
- Cox Energy SAB de CV - Overview
- Cox Energy SAB de CV - Product / Service
- Cox Energy SAB de CV - Key offerings
- SWOT
14.6 Enel Spa
- Enel Spa - Overview
- Enel Spa - Product / Service
- Enel Spa - Key news
- Enel Spa - Key offerings
- SWOT
14.7 ENGIE SA
- ENGIE SA - Overview
- ENGIE SA - Business segments
- ENGIE SA - Key offerings
- ENGIE SA - Segment focus
- SWOT
14.8 First Solar Inc.
- First Solar Inc. - Overview
- First Solar Inc. - Business segments
- First Solar Inc. - Key news
- First Solar Inc. - Key offerings
- First Solar Inc. - Segment focus
- SWOT
14.9 Flex Ltd.
- Flex Ltd. - Overview
- Flex Ltd. - Business segments
- Flex Ltd. - Key offerings
- Flex Ltd. - Segment focus
- SWOT
14.10 JinkoSolar Holding Co. Ltd.
- JinkoSolar Holding Co. Ltd. - Overview
- JinkoSolar Holding Co. Ltd. - Product / Service
- JinkoSolar Holding Co. Ltd. - Key news
- JinkoSolar Holding Co. Ltd. - Key offerings
- SWOT
14.11 Scatec ASA
- Scatec ASA - Overview
- Scatec ASA - Business segments
- Scatec ASA - Key offerings
- Scatec ASA - Segment focus
- SWOT
14.12 Sengi Solar
- Sengi Solar - Overview
- Sengi Solar - Product / Service
- Sengi Solar - Key offerings
- SWOT
14.13 Solaris Photovoltaic Technology
- Solaris Photovoltaic Technology - Overview
- Solaris Photovoltaic Technology - Product / Service
- Solaris Photovoltaic Technology - Key offerings
- SWOT
14.14 Tata Power Co. Ltd.
- Tata Power Co. Ltd. - Overview
- Tata Power Co. Ltd. - Business segments
- Tata Power Co. Ltd. - Key offerings
- Tata Power Co. Ltd. - Segment focus
- SWOT
14.15 TotalEnergies SE
- TotalEnergies SE - Overview
- TotalEnergies SE - Business segments
- TotalEnergies SE - Key news
- TotalEnergies SE - Key offerings
- TotalEnergies SE - Segment focus
- SWOT
14.16 Trina Solar Co. Ltd.
- Trina Solar Co. Ltd. - Overview
- Trina Solar Co. Ltd. - Product / Service
- Trina Solar Co. Ltd. - Key news
- Trina Solar Co. Ltd. - Key offerings
- SWOT
14.17 Yingli Solar
- Yingli Solar - Overview
- Yingli Solar - Product / Service
- Yingli Solar - Key news
- Yingli Solar - Key offerings
- SWOT
Research Methodology
All our research reports employ a mixed-methods approach, leveraging both primary and secondary research techniques to develop a comprehensive and well-informed analysis. The methodology ensures a balanced perspective by combining data-driven insights with expert opinions.
1. Secondary Research
Secondary research formed the foundation of the study, offering a contextual understanding of the market landscape, historical trends, and existing data. This phase involved gathering and analyzing information from:
- Industry reports and whitepapers (e.g., McKinsey, Deloitte, Statista)
- Academic journals and case studies
- Company reports, investor presentations, and press releases
- Government databases and regulatory publications
- Trade publications, industry blogs, and news articles
2. Primary Research
To validate and complement secondary findings, extensive primary research was conducted. This included both quantitative data collection and qualitative insights, particularly through expert consultations.
a. Expert Consultations (Qualitative Primary Research)
In-depth interviews were conducted with a wide range of industry stakeholders, including:
- Industry experts and consultants
- Senior executives and decision-makers
- Product managers and supply chain professionals
- Academic researchers and analysts
b. Surveys and Questionnaires (Quantitative Primary Research)
Structured surveys were distributed among:
- End-users/consumers
- Retailers and distributors
- Business-to-business (B2B) buyers
3. Data Validation and Triangulation
Findings from secondary and primary sources were cross-validated through data triangulation to ensure accuracy, consistency, and reliability. This process involved comparing insights from different sources and reconciling discrepancies through expert feedback.
4. Analytical Tools and Frameworks
Various analytical models were applied to interpret the collected data:
- SWOT Analysis for understanding strengths, weaknesses, opportunities, and threats
- Porter’s Five Forces to assess market competitiveness
- PESTLE Analysis to evaluate external macroeconomic influences
- Forecasting Models using historical data trends and regression analysis
Conclusion
The combination of comprehensive secondary research and robust primary data collection—enhanced by expert consultations—ensured the development of a well-rounded and in-depth analysis. This approach enables strategic decision-making backed by both empirical evidence and industry expertise.
For detailed methodology for this particular report please write to us on info@syovi.com