Off-Grid Solar in Africa is a $24 billion opportunity says report
A report published by Kleos Advisory estimates that the commercial opportunity for off-grid solar power in Africa is $24 billion per year.
The UK is one of the leading players in the African off-grid sector, combining solar and mobile phone technology in order to provide affordable power for the 600 million people that still lack access to grid electricity.
According to the report, some 5 million of these pay-as-you-go solar home systems have been sold in the last 4 years and this figure is accelerating with over one million such systems sold in the first 6 months of 2019.
Energy is one of the key requirements for African countries where fewer than one in two people are connected to the grid. Azuri technologies is a leading provider of off-grid solar power that enables households to access modern digital technologies such as TV and the Internet without the need for a grid connection.
“Given the ability of solar-fintech solutions to deliver power to African households along with the affordable financing to pay for it, solar could be the breakthrough technology that finally connects Africa’s vast off-grid communities,” states the report author.