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Solar energy became 5% cheaper in the first quarter of 2024

The drop was caused by the reduction in the price of polysilicon, according to a study by Radar Solfácil

Solar energy became 5% cheaper in the first quarter of 2024

Reduction in the price of solar energy was observed in all regions of Brazil. Photo: Freepik

With the collaboration of Yvana Leitão

 

O average price of solar energy No. Brazil suffered a 5% reduction in the first quarter of 2024 compared to Q2023 XNUMX: falling from R$ 2,90/Wp to R$ 2,76/Wp, according to Radar's new report Solfácil.

The study – which updates the evolution of source costs in the country every three months – points out that the is was motivated due to the decrease in prices polysilicon (main raw material in the production of solar panels) on the international market in the final stretch of 2023. 

Although the value of the input did not fall significantly in the first quarter of 2024, the impacts of the reductions suffered last year continued to impact project prices in Brazil at the beginning of the year. 

According to the study, the reduction in solar energy prices was observed in all Brazilian states, with the exception of Ceará, where the average cost of the installation did not fluctuate, as shown in image below:

Source: Radar Solfácil

Among Brazilian regions, the Midwest stood out as the location with the lowest average price in Brazil: R$2,67/Wp and a drop of 3,61% compared to the fourth quarter of last year. 

No Southeast the reduction was 4,86% in the average price, which is now R$ 2,74/Wp, tied with the Northeast, which also has an average cost of R$2,74/Wp and had a drop of 6,16% in the period.

Already in the region Sul, the average cost of solar energy is R$ 2,82/Wp, a decrease of 5,69%, while in North, the average price – despite still being the highest in the country (R$ 2,93/Wp) – accounted for a 3,93% reduction at the beginning of the year.

“We are witnessing a historic moment for solar energy in Brazil. O The price of solar energy has never been so viable. Every quarter, we have seen frequent declines. With continuous cost reduction, the tendency is for more people to choose to invest in this sustainable energy source”, said Fabio Carrara, CEO and founder of Solfácil.


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Henrique Hein
About the Author
Henrique Hein

He worked at Correio Popular and Rádio Trianon. He has experience in podcast production, radio programs, interviews and reporting. Has been following the solar sector since 2020.

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