Brazil is one of the leading renewable energy producers worldwide. In 2023, the Latin American country ranked third in terms of installed renewable capacity, only after China and the United States. In total, Brazil had an operating renewable capacity of 194 gigawatts as of end of that year. Most of Brazil’s renewable capacity comes from its hydropower plants, which were responsible for roughly 63 percent of the country’s electricity production in 2022. In total, renewables accounted for over 87 percent of the electricity mix that year, with wind being the second largest source after hydropower.
Brazil ranks as the second largest hydropower consumer worldwide. In 2022, the country's consumption of hydroelectricity stood at roughly four exajoules, accounting for almost 10 percent of global consumption. Accordingly, Brazil boasts some of the largest hydroelectric dams worldwide, most of which are located in the Amazon river basin. In 2022, the Brazilian hydropower sector employed roughly 194,000 people.
Although hydropower is by far the largest renewable electricity source in Brazil, wind and solar have been the fastest-growing technologies in the last years. In 2023, solar power capacity additions in the country reached nearly 12 gigawatts. Solar has also dominated the renewable investment landscape in Brazil in recent years, especially the small-scale solar segment, which amassed some 13 billion U.S. dollars in 2022.
It is forecast that Brazil’s wind and solar power capacity additions will range between 14 and 18.5 gigawatts annually until 2028. The country has set a renewable capacity target of 217 gigawatts by 2030, a growth of 25 percent when compared to 2022. The share of renewables over the total capacity installed in Brazil is one of the highest in the world. In a scenario based on the historic trajectory of the country's energy sector, this share is forecast to decrease due to the expansion of the power sector and the incorporation of non-renewable sources to the electricity mix. However, if additional measures are taken to achieve carbon neutrality, the share of renewables is projected to continue growing in the next years. Due to its geographic location, with a high amount of sunlight and an extensive coastline, Brazil has an enormous potential for the further implementation of renewable technologies such as wind and solar.
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