Will Brazil's lithium battery market grow in 2030?

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.

Is Brazil a good place to buy a lithium battery?

Brazil has only a small electric vehicle industry, and does not have facilities to process the metal so it can be used for batteries. Exports are seen as the best hope for the country's nascent lithium sector. An important raw material for battery production, lithium is key to the electric vehicle industry.

What is the energy supply in Brazil?

According to the Brazilian Energy Balance Summary Report 2024 issued by the EPE, the internal energy supply is divided between: Oil and its derivatives: 35.1%. Sugar cane biomass: 16.9%. Natural gas: 9.6%. Hydraulic energy: 12.1%. Coal: 4.4%. Firewood and Charcoal: 8.6%. Black liquor and other renewables: 7.2%. Wind power: 2.6%. Solar power: 1.7%.

How much lithium does Brazil produce?

Lithium production in Brazil continues to trend higher. In 2024 the South American nation produced 10,000 MT, almost double 2023’s 5,260 MT. After achieving output of 400 MT or less from 2011 to 2018, the country’s production hit 2,400 MT in 2019 and has continued to rise year-over-year.

Are energy storage products coming to Brazil?

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.

Will Brazil conduct the first energy storage auction?

Brazil is set to conduct the country's first-ever energy storage auction for adding batteries and storage systems to the national power grid.