Pressure on module prices and moderating demand are reshaping the photovoltaic market .
During Intersolar South America 2026 , held between August 25 and 27 in São Paulo, the company presented its market analysis and outlined the main guidelines for its regional expansion.
“Growth was very strong from 2017 onwards, driven by laws and regulations. However, since 2023 demand has remained stable and we believe it could decrease slightly because the market is more mature,” said Rafael Chagas , Senior Sales Manager for Latin America at Helius Sunlink PV , in an interview with Energía Estratégica.
Adding to the slowdown is the intense competition among manufacturers and suppliers. According to the executive, the drop in module prices is an international phenomenon. The current context presents a combination of scale and challenges . Brazil has approximately 185 GW of renewable energy capacity , representing about 85% of its electricity mix. Centralized solar power reaches 22.71 GW , while distributed micro and mini-generation approaches 50 GW.
Thus, approximately 68% of the country's photovoltaic capacity corresponds to distributed generation . This segment continues to grow, although at a slower pace than in previous years and with greater difficulties related to connection processes, distribution companies, and tariff charges.
Furthermore, the gap between operational capacity and the backlog highlights some of this difficulty. Brazil has 2.46 GW of centralized solar power under construction and another 78.06 GW of awarded projects that have not yet begun construction. While this volume reflects the country's potential, a significant portion of these projects still face financial, regulatory, and grid access barriers.
Latin American growth: Argentina and Peru as priority markets.
Helius Sunlink PV's strategy is not limited to Brazil. The company admitted to this publication that it "will expand its presence throughout Latin America, with Argentina and Peru among the priority markets," although both are at different levels of development.
In Argentina, distributed generation is still in its early stages, but it shows opportunities in the corporate segment. As of July 2026, the country had 4,891 user-generators and 165.5 MW connected to the grid, of which approximately 80% corresponded to C&I installations.
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In Peru, the photovoltaic market is undergoing a period of expansion and has significant potential for new developments. According to the Ministry of Energy and Mines (MINEM), the country has an estimated 937 GW of usable solar potential, with Arequipa, Ica, and Puno among the regions offering the best conditions for developing photovoltaic projects.
This is complemented by a growing investment portfolio. For the period 2026-2028, the Ministry of Energy and Mines (MINEM) identified nine large photovoltaic solar projects under development, representing approximately US$1.268 billion in investment and 1,420 MW of new installed capacity. Additionally, a broader portfolio of 13 solar projects with definitive generation concessions exceeds 2,400 MW of projected capacity, primarily in the south of the country.
The development of distributed generation, however, is at a less mature stage than in markets like Chile. The Peruvian government has been working on modernizing the electricity framework and regulating small-scale distributed generation. In parallel, the Smart Grid Roadmap for Distribution 2023-2030 envisions greater integration of distributed energy resources and renewable sources within the electricity grid.
This scenario opens up opportunities for photovoltaic technology manufacturers and distributors as the regulatory framework progresses and the incorporation of solar energy increases in the residential, commercial, and industrial segments.
In both markets, the firm will seek to advance by expanding its regional team, developing local distributors, and offering more efficient modules tailored to the needs of each segment.
Back Contact and TOPCon, the bets to stand out
Within this framework, Helius Sunlink PV's differentiation strategy relies on the incorporation of Back Contact and N-Type TOPCon modules. The company showcased single-faced and bi-faced solutions designed for various types of installations, including the Ares line, which features a 670W Back Contact module for the market.
Participation in the trade show was also aimed at strengthening ties with distributors and integrators. In addition to showcasing products, the company sought to expand its brand recognition and introduce more efficient technologies to a market where price remains a key decision factor.
“We have production capacity from the cells to the finished panel. Our goal is to use that experience and our technology to support the development of solar energy in Latin America,” highlighted Endros Wosniak , Marketing Analyst for the company.
Looking ahead to 2027, the company expects regulatory and production changes in China to help restore industry margins , although it acknowledges that these changes could lead to price increases. For Helius Sunlink PV, this potential adjustment would allow for more level playing field after a period marked by exceptionally low prices.