The report “Sub-Saharan Africa Policies And Finance For Renewable Energy Deployment” by IRENA concludes:
- Sub-Saharan Africa presents unique development challenges, but also significant opportunities related to the renewable energy deployment and development. Sub-Saharan Africa has contributed very little to global carbon emissions, yet it is among the regions most vulnerable to climate change. This vulnerability is due to the region’s geography and the structure of its economies, as well as many countries’ lack of financial capacity to fund their energy transitions while adapting to climate change.
- The energy transitions in Sub-Saharan Africa will therefore rely on international partnerships, including reliable climate finance to boost regional use of sustainable and modern renewable energy. Sub-Saharan Africa can draw on its tremendous wind, solar, hydropower and geothermal resource potential. Unlike fossil fuels, these resources cannot be depleted, offering countries sustainable and increasingly cost-effective sources of energy to support their socio-economic development plans.
- Falling technology costs are bringing renewables increasingly within reach, whether as utility-scale solutions or decentralised solutions, including minigrids or standalone applications. This evolution is being reflected in the renewable targets being set in regional and national energy plans, together with policy instruments that make these technologies more affordable and the related investments more attractive.
- For Sub-Saharan Africa to achieve its vast energy potential and meet energy needs, and realise the associated socioeconomic benefits, it will require significant investments distributed evenly. Yet attracting renewables investments has been a consistent challenge in the region, given the high real and perceived risks in investing.
Access the complete report here
