Sub-Saharan solar minigrid market worth $128 billion by 2030
Sub-Saharan solar minigrid market worth $128 billion by 2030
The electrification of rural communities remains a challenge for central grids, as communities tend to be spread across vast swathes of land. Minigrids, especially those powered by PV, are much better equipped to serve such places, according to the new “State of the Global Mini-grids Market Report 2020,” recently published by BloombergNEF and Sustainable Energy for All.
The authors of the report counted 7,181 minigrid projects as of March 2020 throughout Sub-Saharan Africa, Asia, and a number of small island nations, in addition to some installations in Latin America. Nearly 5,545 of those projects are operational, and around 63% of them are powered by solar, or they are solar hybrids. Asia appears to be the hottest market, accounting for about 60% of all completed projects. Another 39% are found across Sub-Saharan Africa, with Latin America and small island nations accounting for the remainder.
“In the fallout of Covid-19, countries have a unique opportunity to ‘recover better’ and reset their economies while accelerating energy access,” said Damilola Ogunbiyi, CEO of Sustainable Energy for All. “Now, more than ever, we need a thriving mini-grids sector that can power critical infrastructure and give access to the 789 million people worldwide who lack electricity. We must improve regulatory frameworks, commit greater finance and scale innovative minigrid business models. This research offers critical insights for all minigrids stakeholders that can help the market reach its full potential and deliver Sustainable Development Goal 7 progress.”
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