Between 2013 and 2023, Brazil's solar energy consumption has seen significant growth, increasing from 0 Exajoules to 0.41 Exajoules. The most notable increases occurred between 2016 and 2023, with a substantial year-on-year growth rate of 43.82% in 2023. Furthermore, the Compound Annual Growth Rate (CAGR) over the last 5 years (2018-2023) stood at 65.28%.

The data forecasts continued strong growth from 2024 to 2028, with a projected CAGR of 13.95% and an overall forecasted increase of 92.09% over those years. This indicates that Brazil’s solar energy consumption will continue to expand at a robust, albeit decelerating, pace.

Future trends to watch for include:

Government policies and incentives aimed at promoting renewable energy.
Technological advancements that may reduce the cost and increase the efficiency of solar panels.
Investment from both domestic and international stakeholders in Brazil’s solar infrastructure.
Potential integration of solar energy with other renewable sources to create a mixed energy grid.