Solar module imports drop 48% in Brazil in H1

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        Brazil's PV module imports fell 48% year on year to 5.48 GW in the very first half of 2026, driven by an 82% decrease in need from utility-scale tasks in the middle of extensive curtailment. Dispersed generation imports fell 39%, while typical module rates increased 12.9% following China's phaseout of a 9% export reward.    

Brazil imported 5.48 GW of PV modules in the very first half of 2026, down 48% from 10.57 GW in the exact same duration of 2025, according to a study by consultancy Greener. The contraction shows a sharp downturn in need for PV devices, especially from utility-scale tasks.

Imports decreased year on year in almost each month of the six-month duration. They fell 71.6% in March and 60.7% in April. May was the only exception, with imports increasing 6.5% from the very same month of 2025.

In outright terms, Brazil imported about 5.1 GW less module capability in the very first half of 2026 than it did a year previously. Regular monthly volumes fell from 2.33 GW to 1.12 GW in January, from 2.19 GW to 1.02 GW in February, and from 2.03 GW to 576.7 MW in March.

Curtailment weighs on utility-scale tasks

The contraction was especially serious in the central generation sector. Module imports for utility-scale jobs fell 82%, from 2.3 GW in the very first half of 2025 to 430 MW in the exact same duration of 2026.

Luiza Bertazzoli, head of market intelligence at Greener, stated curtailment is the primary element behind the decrease.

“In central generation, curtailment is the dominant aspect today,” Bertazzoli stated. “It decreases predicted task earnings and increases the viewed danger of brand-new financial investment.”

She stated the supply-demand imbalance is likewise connected to the a great deal of task permissions approved throughout the rush to fulfill tariff-discount due dates over the last few years. Stronger-than-expected development in dispersed micro- and minigeneration has actually likewise increased competitors for grid capability.

Greener stated generation curtailment is weakening the success of utility-scale tasks and dissuading purchases of brand-new devices.

Dispersed generation likewise slows

The slump was less noticable in the dispersed generation sector, where module imports fell 39%, from 8.2 GW to about 5 GW.

In spite of the decrease, dispersed generation’s share of module imports increased from 78% in the very first half of 2025 to 92% in the exact same duration of 2026. The share credited to central generation fell from 22% to 8%.

Greener associated the distributed-generation downturn to numerous elements. The marketplace is getting in a more fully grown stage after years of quick growth, while high rates of interest, decreasing usage of sales funding and grid-connection restrictions are weighing on need.

Bertazzoli stated the percentage of sales including funding has actually fallen from 57% in 2021 to 41% in 2026, according to a Greener study.

Grid-connection rejections by electrical energy suppliers due to reverse power circulation are another challenge. The issue is especially severe in Minas Gerais, where 79% of system integrators reported experiencing it in 2025, compared to a nationwide average of 33%, according to information mentioned by Bertazzoli.

Remote dispersed generation is likewise being impacted by the steady intro of the TUSD circulation tariff’s “Fio B” element. The appropriate share reached 60% in 2026, decreasing the financial advantage of creating electrical power at one area and utilizing credits to balance out intake somewhere else.

Module costs increase 12.9%

The decrease in import volumes accompanied greater devices rates. The weighted typical free-on-board cost of modules increased 12.9% in the very first half of 2026, from $0.0802/ W in the very same duration of 2025 to $0.0906/ W.

The boost was focused in the 2nd quarter. The typical cost reached $0.1042/ W in May, the greatest level taped throughout the duration and 29% above the January cost of $0.0816/ W.

Greener associated the boost to China’s phaseout of a 9% export reward for PV modules starting in April, which positioned upward pressure on devices expenses in the worldwide market.

The consultancy anticipates makers to pass just a minimal part of the boost on to purchasers in the 2nd half of the year.

“The very first half of the year currently taken in the effect of completion of the Chinese aid for module exports,” Bertazzoli stated. “It is an irreversible modification, however the pass-through to end purchasers is most likely to stay restricted, as China’s excess production capability pressures producers to soak up part of the expense within their margins.”

Bertazzoli stated polysilicon costs started to increase a little in August, following the intro of a Chinese policy focused on suppressing overproduction. The boost might put additional upward pressure on module rates.
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