Brazil taps into solar energy after electricity price hike

Global Business

Brazil is also facing energy issues as electricity prices continue to rise. But the Brazilians are now turning to an power source that’s been around for four and a half billion years: It’s the sun. And thanks to rapid advances in solar panel technology, the country’s future in energy is looking a bit brighter.
CCTV’s Paulo Cabral reported this story from Sao Paulo.

Brazil taps into solar energy after electricity price hike

Brazil taps into solar energy after electricity price hike

Brazil is also facing energy issues as electricity prices continue to rise. But the Brazilians are now turning to an power source that's been around for four and a half billion years: It's the sun. And thanks to rapid advances in solar panel technology, the country's future in energy is looking a bit brighter. CCTV's Paulo Cabral reported this story from Sao Paulo.

Highlights: 

  • Electricity price hikes are making companies and people look at their alternatives.
  • There is no lack of solar energy in a tropical country like Brazil though installing these panels to turn it into electricity is relatively expensive. But now, with recent hikes in electricity costs brought on by the country’s historic drought – solar power is getting a second look – as a cost-effective option.
  • The environmental group GreenPeace says a residential solar system could pay for itself in a matter of years give the current high electrical bills faced by homeowners today.