Top 10 Component Suppliers in the Brazilian Market in 2023: JinkoSolar, Canadian Solar, JA Solar, LONGi Solar, Trina Solar, Tongwei, and Chint Solar Listed
2024-04-02 9:40

Recently, the authoritative Brazilian analysis agency Greener released the "2024 Brazil Distributed Market Strategic Analysis Report," which reviewed the overall situation of the Brazilian distributed market in 2023 and analyzed the development trends for 2024.

The report pointed out that in 2023, among the 90 brands supplying components to Brazil, the top ten brands accounted for 77% of the overall import volume in 2023. Jinko Solar ranked first, followed by Atlas, with JA Solar, Trina Solar, Longi, Canadian Solar, and Chint also appearing in the top ten list.In 2023, Brazil saw a slight reduction of 1.7% in the nationalization of 17.5 GW compared to the previous year. This result contrasts with the records achieved in the Brazilian market the previous year - In 2023, 66% of the total nationalized volume, equivalent to 11.4 GW, was directed to the distributed generation (DG) market, a reduction of 2 GW compared to 2022.

Residential class faced a drop in added power of approximately 20% in 2023 compared to 2022, while other classes witnessed growth. This slowdown was attributed to the credit cr unch and high interest rates, which continued at high levels throughout the year, especially during the first half of 2023.

In the first half of 2023, there was a recovery in the use of credit with financing, accounting for 48% of sales. By the end of the year, this figure had risen to 53%, indicating a more favorable second half of the year for credit, possibly driven by the reduction in interest rates that began in August 2023.

In January 2024, final prices for distributed microgeneration (DG) customers fell by an average of 30% compared to January 2023. As a result, there was an improvement in the return on investment, with a 15% to 20% reduction in the payback period for residential and commercial systems.

Source:Photovoltaic Focus

Tags:JA Solar , Jinko Solar , solar energy , South America green energy