Africa just posted its best solar year on record, but the real boom is predicted to be 6X bigger. (Bloomberg)
The continent installed a record 4.5 GW of new solar capacity last year—a 54% jump annually. South Africa (1.6 GW), Nigeria (803 MW), and Egypt (500 MW) led the charge, driving a market that analysts predict could grow sixfold to 33 GW by 2029.
Africa is running two energy revolutions at once: a slow, government-led march toward giant utility-scale farms, and a rapid, private-sector sprint toward rooftop solar and mini-grids for homes and businesses.
Yes, but: While the distributed sector is exploding, some 82% of clean energy funding still comes from slow-moving public sources mandated for massive infrastructure, leaving agile mini-grid companies starved for capital.