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Brazil is one of the largest and fastest growing Distributed Generation (DG) markets globally due to (i) strong solar radiation; (ii) declining costs of solar systems, (iii) high electricity tariffs, and (iv) favorable regulation. Debt financing for distributed generation projects, which was very limited for many years in Brazil, has been rapidly increasing, reaching over US$4 billion in 2023, primarily to small residential and commercial projects from five leading FIs.
A new solar DG law passed in 2022 has important implications for the continued growth of the sector. While the new law reduces the economic benefits of DG, the new regulatory certainty helps reassure the market. Given the new law, there are several potential market supporting activities that could be undertaken to help maintain growth momentum in the sector. These include:
IFC is seeking consultancy services to help understand these issues and develop a framework for how to support market development by addressing them.