Investing in Off-Grid Solar: A Must for Universal Access to Electricity
Off-grid solar is undoubtedly one of the key areas to ensure universal access to electricity by 2030. According to recent estimates by the Energy Sector Management Assistance Program (ESMAP) in collaboration with the World Bank and the Global Off-Grid Lighting Association (GOGLA), an investment of US$21 billion would be required to unlock the full potential of this promising energy source.
The report titled “Off-Grid Energy Market Trends Report 2024” highlights the crucial role of solar mini-grids in providing electricity to 500 million people by the next decade. Experts emphasize that off-grid solar is not only cost-effective but also essential to enable the electrification of the 41% of the world’s population still without access to electricity. Indeed, this sector has already proven itself by ensuring 55% of new connections in sub-Saharan Africa between 2020 and 2022, a region where more than 80% of the population remains unelectrified.
Faced with these encouraging figures, it seems essential to act quickly to support the development of off-grid solar energy. Otherwise, there is a great risk of leaving 660 million people in the dark by 2030. This technology has already demonstrated its potential, with more than 50 million off-grid solar products sold in 2022 and 2023. The market has thus generated a turnover of USD 3.9 billion in 2022 and USD 3.8 billion in 2023, despite economic and monetary challenges.
To meet the challenge of global electrification, it is imperative that the stakeholders involved mobilize and commit to investing massively in off-grid solar energy. This investment represents a key lever to promote sustainable development, reduce inequalities and ensure equitable access to electricity for all. It is time to act, to deliver on commitments made and to transform rhetoric into tangible actions for a more inclusive and environmentally friendly energy future.