Can I install macOS Big Sur on my MacBook Pro A2015?

I have been using my MacBook Pro (model A2015) for the past 7 years. It has an Intel Core i5 processor, 8 GB RAM, and a 121 GB SSD. Currently, macOS Catalina is installed on it. For the past year, I’ve been unable to install new software or have faced various issues. So, I want to format Catalina and use macOS Big Sur instead.

How much storage might be required to install Big Sur?

Will Big Sur run smoothly on my current configuration?

[Re-Titled by Moderator]