Economics
A huge shortage of capital for the sector remains, with just a decade left to achieve SDG7. And most money is concentrated in a small number of companies while ignoring most high-impact countries. What solutions are needed?
Practical Action’s PPEO 2017 focuses on how to finance people-driven energy access solutions. Through case studies from Bangladesh, Kenya and Togo, Practical Action highlights that we already have most of the tools needed to finance a bottom-up renewable revolution.
Nigeria’s Decentralized Renewable Energy (DRE) Taskforce, which was launched in February to accelerate modern electricity access initiatives, met April 18 to tackle pressing challenges for the DRE sector, including a new tariff on solar panel imports.
Chances are that if you live in a remote part of sub-Saharan Africa or South Asia and don’t have access to electricity, you also don’t have access to clean water. That’s hundreds of millions of people.
An updated analysis of electricity access by the International Energy Agency (IEA) concludes that “decentralised systems, led by solar PV in off-grid and mini-grid systems, will be the least-cost solution for three-quarters of the additional connections needed” to achieve Sustainable Development Goal 7 (SDG7) by 2030.
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