Brazil Cancels Import Tariffs on Battery Components, Inverters and Trackers
Resolution No.70 adopted by Brazil on July 16 will cancel the import duties on commodities including various photovoltaic modules, inverters and solar trackers.
This measure, taken by the Foreign Chamber of Commerce of the Ministry of Economic, lists 101 tax-free solar module and some three-phase inverters and trackers. This law will come into effect on August 1st. At present, most photovoltaic equipment imported from Brazil has to pay a 12% tariff.
Although there is no domestic content requirement for large-scale solar energy projects or distributed generation systems with capacity up to 5 MW allocated in the auction, if components made in Brazil are used in photovoltaic power plants, funds can be obtained from BNDES of China Development Bank and other government agencies.
Last November, Brazilian President Bolsonaro vetoed a bill approved by the Senate and House of Representatives, saying that its cost was too high. According to the official gazette of the government, the bill exempted solar equipment from the import tax, which would reduce the national fiscal revenue.
This measure, taken by the Foreign Chamber of Commerce of the Ministry of Economic, lists 101 tax-free solar module and some three-phase inverters and trackers. This law will come into effect on August 1st. At present, most photovoltaic equipment imported from Brazil has to pay a 12% tariff.
Although there is no domestic content requirement for large-scale solar energy projects or distributed generation systems with capacity up to 5 MW allocated in the auction, if components made in Brazil are used in photovoltaic power plants, funds can be obtained from BNDES of China Development Bank and other government agencies.
Last November, Brazilian President Bolsonaro vetoed a bill approved by the Senate and House of Representatives, saying that its cost was too high. According to the official gazette of the government, the bill exempted solar equipment from the import tax, which would reduce the national fiscal revenue.
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