Brazil has added about 5.7 GW of capacity from solar plants, which has led it to the fourth ranking. With this, the country stands only behind China, the United States and India.
This has been released by the International Renewable Energy Agency (IRENA) and the Brazilian Photovoltaic Energy Association (ABSOLAR).
According to their latest survey, the country added about 5.7 GW of capacity from solar plants. It further stated that Brazil has also risen to one place in the world ranking which accounts for the entire solar source.
As per a local report, "these data represent progress across multiple segments."
The sector has created over 450 thousand jobs since 2012. It had an investment of over BRL 75 billion. It also helped in avoiding the emission of 20.8 million tons of CO2 in electricity generation.
According to ABSOLAR, in Brazil, solar power is quick to install and helps reduce consumer electricity bills by up to 90%.
In Brazil, hydroelectric plants are the main energy generators in Brazil along with thermoelectric plants. As per ABSOLAR, large solar plants can generate electricity at prices 10 times lower than thermoelectric plants.
Stakeholders are of view that there is a need to invest in renewable energy.