Latest brazilian energy storage subsidy policy

How much money has Brazil committed to supporting different energy types?

In 2020-2021, in response to the COVID 19 pandemic, Brazil has committed at least USD 3.88 billion to supporting different energy types through new or amended policies, according to official government sources and other publicly available information. These public money commitments include:

What is Brazil's first large-scale energy storage system?

Brazil launched on Thursday its first large-scale energy storage system with a total capacity of 30 MW, power sector regulator Aneel announced.

How will Brazil respond to energy transitions?

The speed of energy transitions will be determined by the effectiveness of international cooperation on clean energy technologies, and Brazil is set to play an active role in responding to these issues.

How much money does Brazil spend on fossil fuels?

That is above the 10.7 billion reais ($2.15 billion) budgeted for the so-called "CCC", a government fund that subsidizes the fossil fuels used to generate energy in Brazil's isolated areas, not connected to the country's grid, usually located in the North region and that rely on local generation from more expensive and polluting sources.

Why did Brazil create incentives for wind and solar energy?

Incentives for wind and solar energy were established to make these energy sources more competitive and allow them to be integrated into the Brazilian energy system. Much of the market says that these sources no longer need the subsidy, so much so that a law was passed in 2021 to extinguish it.

Will Brazil throw away the meaning of the energy transition?

Brazil could receive an estimated BRL 2 trillion in investments towards the green economy over ten years. "We are not going to throw away the meaning of the energy transition. This country has already thrown away too many opportunities. We cannot throw away opportunities. We need to bear in mind that we have everything.