Best Practices of Financing in Africa

The IEA (2010) estimates that about 589 million people in Africa live without access to electricity [21]. Africa’s non-electrified population is expected to grow from 110 million households to 120 million households by 2015 [2]. African grid expansion is failing to keep pace with population growth. Solar technologies provide the alternative to sustainable development and life-changing improve­ments. However, the high up-front cost of LED SHS continues to be an issue for the poorest African consumers. Access to finance, therefore, is a key factor for the adoption of solar lighting technology.

1. Desertec Consortium is investing in solar business in North Africa.

2. China is funding a study to evaluate Kenya’s potential for solar water heaters and solar PV.

3. The Global Environment Fund (GEF) is providing millions of dollars as financial capital to help spur development in Africa, financing through Multi­lateral and Bilateral agencies.

4. Government incentives: South Africa—$0.269/kWh feed-in tariff; Morocco – plans to double the share of renewable energy sources to 19%.

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