Prospects for the development of the Brazilian electricity market in the modern innovative economy

The purpose of this article is to identify the prospects for the development of the Brazilian electricity market and discuss its main features. During the market analysis, the author shows that Brazil is a country with great potential for the development of renewable energy with an emphasis on biomass and wind energy. The author compares the Levelized Cost of Energy (LCOE) of the most common types of electricity production and reveals that today, the most competitive are onshore wind farms and thermal power plants running on biomass. The article also concerns the problem of Brazilian electricity energy transmission system. As a result of the study, the main trends in the development of the Brazilian electricity market have been identified. There will be an increase in the importance of non-conventional renewable energy sources in the country while maintaining the balancing role of fossil fuel production. Synergy between the state and the private sector will allow Brazil to achieve energy efficiency and security.