Brazilian boost renewable energy
Today Brazil starts it first national renewable energy auction. The special category Solar Power may may spur as much as $1 billion dollar investment and gives a boost to the Brazilian solar market. That’s what Bloomberg reports today.
The Brazil Electric Energy Trading Board may buy 2 gigawatts of renewable energy, and 500 megawatts must come from solar power, according to 3 analysts.
Until 2014, sun power supplies less than one percent of the country’s electricity. But because of the drought in Brazil, especially the state of Sao Paulo, electricity from the hydroelectric plants shortens strongly.
Therefore Brazil needs to explore new forms of renewable energy and diverse its energy sources. And of course the sun is shining a lot in this great country. Brazilians choose of Sun Power therefore is logical.
There are 400 power plants in the auction, with total capacity of 10.79 gigawatts. Companies will compete for 20-year contracts to sell power from projects that must go into operation by October 2017. Developers also registered 626 proposed wind farms and eight biogas projects.
High prices for solar panels have limited the development of a photovoltaic industry in Brazil. Solar panels aren’t produced domestically and Brazil taxes imported ones at 12 percent.
Brazil is not a technology developer of solar power panels. The government was waiting for the technology to be advanced in order to spur the industry.
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