Renewable Energy in Africa
Renewable energy technologies are trending rapidly towards cost competitiveness with fossil fuels – even cost parity, in some cases. As renewable energy becomes more affordable, there are signs that some markets in sub-Saharan Africa would leapfrog fossil fuels technology and that Africa’s economic development could actually be driven by renewable energy technology. Although fossil fuels will continue to have a role to play in the short to medium term, the Paris Agreement reached during the COP 21 climate change conference of December 2015 will also facilitate the growth of renewables capacity in Africa.
Our updated report, 'Renewable Energy in Africa', presents analysis that shows that economic development and the deployment of renewable energy technology are becoming increasingly synergistic, driven by the falling costs of renewable energy. The report also discusses de-risking policies that might be employed in African markets to encourage investment, and provides case studies of the experience of Morocco and South Africa in enabling significant investment.
This report was originally released in December 2015, and was updated in February 2016 with insights from our attendance at the COP 21 climate change conference in Paris.