Africa’s Solar Growth Sees 2.5 GW Boost

Key Figures & Findings: Africa’s solar photovoltaic (PV) capacity grew by 2.5 GW in 2024, bringing the continent’s total to 19.2 GW, according to the African Solar Industry Association (AFSIA) African Solar Outlook report. The market remains concentrated, with South Africa and Egypt accounting for 78% of the new additions, contributing 1.2 GW and 707 MW, respectively. Utility-scale PV dominated installations, making up 72% of new capacity—a significant increase from 32.4% the year prior. AFSIA highlighted the untapped potential across the continent, emphasizing the need for improved financing to fully leverage Africa’s vast solar resources.

Statistics & Insights: Africa announced 40 GW of new solar projects in 2024, marking a 21% year-over-year increase in the project pipeline. Energy storage also saw rapid growth, with installed capacity jumping from 157 MWh in 2023 to 1.64 GWh in 2024, driven by falling prices for stationary storage solutions.

Future Implications: With landmark projects expected in 2025, the distribution of solar installations across Africa may shift, reducing South Africa's and Egypt's dominance. The growth of solar-plus-storage solutions could make renewable energy a cornerstone of Africa’s power infrastructure, boosting energy security and reducing carbon emissions.

Source: EV Wind