Africa Solar Energy Market Size and Outlook 2014-2019 & Forecast to 2029 by Installed Capacity, Demand, Project Capacity - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 15, 2019--
The “Africa Solar Energy Market Size and Outlook Report by Installed Capacity, by Demand, by Project Capacity (2019-2029)” report has been added to ResearchAndMarkets.com’s offering.
The African solar energy market has enormous potential due to its abundant solar resource. Africa is also called a ‘Sun Continent’. Over half of the population in Africa do not have access to electricity. Solar energy if properly deployed, can help the region to reduce its dependence on traditional power types such as coal and oil. It is also an efficient way of power generation in remote areas.
Indeed, there is a vast potential for solar energy to expand renewable energy share in the total energy mix. Governments across the region are devising ways to support the solar energy market. Many global solar energy giants are also taking keen interest and increasing their focus on the region. The enormous untapped potential has yet to be explored in countries such as Algeria, Angola, Egypt, Ethiopia, Ghana, Morocco, Namibia, Nigeria and Tanzania.
In South Africa, the Renewable Energy Independent Power producer Programme (REIPPPP) has been playing a pivotal role in supporting the solar energy market. We expect that the country will continue to support the renewable market, particularly solar energy and will remain the dominant player in the region.
Kenya is also keen to produce more electricity from solar power parks. The government is providing various incentives such as feed-in-tariff for using solar panels. Kenya has set a target to achieve 200 MW of solar panels electricity by 2022.
The solar energy market in Africa is far behind than other regions due to poor economic conditions and lack of infrastructure, among other reasons. Moreover, the political and economic turmoil in the past had pushed most countries far behind in the developing energy infrastructure. The lack of funding and technical know-how is some major factors which keep the solar energy industry underdeveloped.
We expect that in most countries, the existing power infrastructure needs to be upgraded while new capacities need to be installed. Solar energy can be in the best position to help the region in the energy sector through faster and efficient ways.
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SOURCE: Research and Markets
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PUB: 11/15/2019 06:28 AM/DISC: 11/15/2019 06:28 AM