Africa’s Solar Surge: Anticipating Unmatched Growth in PV Technology

(3 Minutes Read)

Africa’s solar photovoltaic (PV) market is set for significant growth, with a projected 42% increase in 2025 after a brief slowdown in 2024. This boom is expected to lead to an additional 23 GW of solar capacity installed by 2028, effectively more than doubling the continent’s current capacity, according to the Global Solar Council.

This growth will not be limited to a few countries; in 2025, 18 African nations are forecasted to each add at least 100 MW of new solar capacity, a dramatic increase from just two countries in 2024. The Global Solar Council notes that this wider distribution of solar projects could reduce costs, generate jobs, and foster industrial growth across the continent.

However, Africa’s solar potential remains largely unexploited. The continent holds 60% of the world’s best solar resources but contributes only 1% to global solar generation capacity, as reported by the World Economic Forum. This discrepancy highlights the urgent need for greater investment and infrastructure development to fully utilize these resources.

A major barrier to maximizing Africa’s solar potential is the high capital costs associated with solar projects. Solar energy expenses in Africa are three to seven times higher than in developed countries, largely due to perceived investment risks and insufficient financing options. Currently, Africa receives only 3% of global energy investments, falling significantly short of the $200 billion needed annually to achieve universal energy access and meet climate goals, as stated by the Global Solar Council.

To overcome these financial challenges, innovative financing solutions, risk mitigation strategies, and increased private sector engagement are crucial. Expanding access to affordable financing is essential to unlocking Africa’s vast solar potential and ensuring that solar energy plays a key role in the continent’s energy future.

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While the trajectory of Africa’s solar PV market is promising, fully realising its potential will require strategic investments and supportive policies to tackle financial and infrastructural challenges. With improved investment flows and targeted policy measures, solar energy could become a fundamental aspect of Africa’s sustainable development and energy security.