Africa leading the way in solar energy potential

Africa holds the world's greatest solar energy potential, according to the World Bank, but unlocking this potential requires significant investment. The International Solar Alliance has set an ambitious target of creating 450 gigawatts of renewable energy by 2030. In a conversation with Ajay Mathur, the Director General of the International Solar Alliance, the path to achieving this goal was discussed. Currently, globally, the total installation of solar energy stands at around 350 gigawatts, with 200 gigawatts installed last year alone. With approximately 90 countries having ratified the framework agreement of the International Solar Alliance and 20 more countries having signed but not yet ratified, the alliance is working towards engaging with more countries to reach its target by 2030. The political leadership in each country plays a crucial role in driving the transition to solar energy by showcasing the benefits such as providing electricity to remote areas, reducing fossil fuel imports, and creating new job opportunities. Capacity building, institution establishment, and policy changes are vital steps to enable the adoption of solar energy. Despite the vast solar energy potential in Africa, only 5% of global solar investments in 2021 were directed towards the continent. To attract more investments, a risk management facility is being set up to provide guarantees on performance, increasing investor confidence. The focus in 2023 will be on implementing solar mini-grids to improve energy access in rural areas and supporting agricultural development through solar pumps. The potential for solar energy in Africa alone currently stands at around 150 gigawatts, with this figure expected to grow as demand increases. Research efforts are primarily directed towards identifying market opportunities for solar applications such as solar pumps for agriculture, solar mini-grids for rural energy access, and large-scale solar farms for urban areas. Looking ahead, the solar energy space is expected to witness a rapid expansion of solar mini-grids for rural electrification and increased adoption of solar pumps for agricultural development in Africa.