An Excel file is a binary file within a binary file. It contains several interlinked checksums and changing even one byte can cause it to become corrupted.

As such you cannot simply append or update an Excel file. The only way to achieve this is to read the entire file into memory, make the required changes or additions and then write the file out again.

This would suggest the easy answer to your question is no. Are you sure that the memory problems are coming from the module in question (Devel::Monitor)? Can you split your task into multiple files? Can you buy more memory or run on a machine with more?

As a side note, the program is 'perl' and the language is 'Perl'. There is no 'PERL'.