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Peru, most of the companies involved are European firms.171 Brazil recently introduced net metering, which may increase the size of the distributed market, though the industry continues to face challenges, such as high equipment prices. The Brazilian utility PV market has been slow to develop, reflecting factors such as difficulty competing with low wind and hydro prices, as well as the need to meet local-content requirements for BNDES financing. The market is growing, however, and prices are becoming more competitive. A number of large projects have been announced (with several related to World Cup venues), including a 1.1 MW project that will be built by U.S.-based developer SunEdison.172 171 BNEF database (accessed June 10, 2013); Rosell, “Varying Rates,” December 2012, 29–30. 172 Industry representative, interview by USITC staff, Santiago, May 13, 2013; industry representatives, interviews by USITC staff, Brazil, May 7, 2013, May 9, 2013, and May 10, 2013; MEMC, “SunEdison and Petrobras,” April 18, 2013; Nielsen, “Brazil Promoting Rooftop Solar,” April 19, 2012; PROINSO, “PROINSO Supplies 100kW to Several Net Metering PV Projects in Brazil,” January 29, 2013. 3-31PDF Image | Renewable Energy and Related Services: Recent Developments
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