By 2021, the green-energy investing will account for 25% of all energy spending, for the first time ever, surpassing spending on fossil fuels, according to Goldman Sachs. Africa's growing middle class could be pivotal to the continent's transition to a sustainable energy future.
Commercial and industrial (C&I) off-takers can become the main driver for the energy transition in Africa and elsewhere. This is in-line with a global trend that is seeing C&I businesses integrating renewable energy solutions to power on-site operations. Renewables address three issues: greening energy supply, reducing cost and making power more reliable.
The pay-as-you-go (PAYG) market for scaling access to solar energy is maturing quickly. Building market share through customer acquisition is no longer the top priority, being replaced by cost efficiency and portfolio management. More savvy funders are now embracing consolidation, thoughtful expansion or franchising. The era of the PAYG start-up is dead.
The deployment of off-grid electricity is one important pathway toward reducing energy poverty. Off-grid technology can meet basic needs at an increasingly affordable cost and, when powered by renewable sources, in a clean manner. Yet until recently, we knew little about the current state of affairs: how much capacity do off-grid systems currently provide? And where?
With more than 600 million people lacking access to electricity in Sub-Saharan Africa, off-grid renewable energy has the potential to transform economies and lift millions out of poverty. But green power can do something else, too: it can help solve the continent’s mounting unemployment crisis. A perspective by Mugo Kibati of M-KOPA and Gilles Vermot Desroches of Schneider Electric.
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