Solar Market Suffering in Brazil

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The Brazilian real has declined 17 percent since Oct. 31, when more than a gigawatt of solar farms won contracts in the country’s first-ever national solar auction and with the slumping currency driving up import prices, developers are holding off on signing supply deals for PV panels. Manufacturers that were considering setting up shop in Brazil are having second thoughts. All of that is threatening President Dilma Rousseff’s goal of increasing the use of solar power more than 100-fold and creating a domestic solar industry.

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