Solar is a strong contender to bridging the energy gap throughout Africa, as installation costs fell by as much as 61 per cent over the past four years, the International Renewable Energy Agency (Irena) said today.
A report by the Abu Dhabi-headquartered organisation said that installed costs for solar photovoltaic (PV) projects are as low as US$1.30 per watt in Africa compared with the global average of $1.80 per watt.
"In recent years, solar PV costs have dropped dramatically and will continue to do so with further declines of up to 59 per cent possible in the next 10 years," said the Irena director general Adnan Amin. "These cost reductions, coupled with vast solar potential on the continent, present a huge opportunity for Africa," he said.
"It has never been more possible, and less expensive for Africa to realise this potential."