Brazil saves $32.4 billion in fossil fuel costs thanks to renewable energy generation

en.Wedoany.com Reported - A recent report by the International Renewable Energy Agency (IRENA) shows that Brazil is the world's third-largest country in reducing fossil fuel expenditures through renewable energy generation. The agency points out that Brazil has avoided approximately $32.4 billion in fossil fuel imports or local consumption by leveraging its renewable energy generation infrastructure.

The same survey also estimates that renewable energy generation has reduced Brazil's carbon dioxide (CO₂) emissions by about 432 million tons. Brazil's Ministry of Mines and Energy (MME) attributes this achievement to the increased share of renewables in the country's energy mix and sustained investment in clean energy.

According to the upcoming 2026 National Energy Balance (BEN) data, Brazil's wind power generation increased by 8.8 terawatt-hours (TWh) last year, while solar photovoltaic generation rose by 17.5 TWh. These two sources became the fastest-growing power types in terms of generation share, together accounting for 24.7%. In the transportation sector, biodiesel consumption grew by 8.2% and ethanol consumption by 4.3%, pushing the renewable energy share in this sector to 26.1%. The renewable energy share in the industrial sector remained at 65.1%.

The report also highlights that Brazil remains one of the most competitive markets for onshore wind power globally, while its average installation costs for large hydropower plants are among the lowest in the world.