ANEEL, the Brazilian power regulator, recently announced the implementation of two new policies that could boost the volume of PV projects across South America. The first policy change aims to stimulate the development of utility-scale solar projects by reducing taxes on electricity generated by solar power plants by 80%. The second modification is to increase the demand for small projects by creating a real net measurement system for residential and commercial projects. This policy announcement shows the country's solemn commitment to the solar industry and intends to turn policy changes into law, which was announced last month. As the largest economy in the continent, any signs of development in the Brazilian PV industry will drive the growth of domestic component production and sales, while also attracting the interest of foreign investors. It is hoped that the revision of the policy will mark a new step in the solar industry in South America, especially Brazil. The development of the Brazilian PV project has been slow and slow compared to the neighboring countries of Argentina, Peru and Chile. After the policy changes, the solar market research organization NPD Solarbuzz envisions that the region's growth rate will reach 350% in 2012 and may increase by three times in 2014. The correlation analysis also shows that the rapid reduction of solar project prices will lead to new PV projects. In parts of South America, including northeastern Brazil, large power plant projects will achieve grid parity in the near future. The forecast shows that if it continues to grow at the current rate, South America and the Caribbean will reach 5% of global PV demand by 2016.
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