Sophia Costa, head of new business at Holu Solar said market analysts expect Brazil's lithium battery sector to grow at a CAGR of 20% to 30% through 2030. “We have observed that the battery energy storage system (BESS) market is booming globally with the use of lithium-ion batteries becoming a reality in many parts of the world,” said Costa.
Holu's Costa observed batteries were prominent during the Intersolar South America trade show held in São Paulo at the end of August 2024. She added, hundreds of manufacturers are bringing energy storage products to Brazil.
From ESS News Brazilian energy suppliers raised the red flag in September 2024, signaling a rise in electricity costs as thermal power stations were fired up to cover a fall in hydroelectric output because of water shortages.
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