Brazilian consultancy Greener reported a 19% drop in PV module imports in the first half of the year, totaling 7.8 GW. This was lower than the 9.6 GW in the same period in 2022, but higher than the 4.8 GW imported in the first half of 2021.

Canadian Solar and JinkoSolar were the top suppliers in the Brazilian market, exporting 1,291 MW and 1,214 MW, respectively, in the first half of the year. They were followed by Longi (759 MW), Risen (721 MW), JA Solar (594 MW), Sunova (589 MW), Eging (454 MW), Trina (365 MW), Osda (219 MW), and DAH Solar (203 MW). In a market with 74 active brands, the top 10 module suppliers accounted for 85% of Brazilian imports.

Greener's said demand from large-scale projects offset the slowdown in the distributed-generation PV market between January and June, mitigating the decline in imports. Greener estimates that the volume of imports in the first half of the year is expected to lead to investments exceeding BRL25 billion ($5.1 billion).

“Despite the challenging first half of the year for the solar market, the drop in prices and the tendency to reduce interest rates bring a more favorable scenario for investment in own generation,” said Greener Director Marcio Takata.