22/12/2023
The Impact of Renewable Energy in Africa.
600 million people in Africa are currently impacted by socio-economic issues due to a lack of access to electricity.
With this set to rise to 1.2 billion people without access to electricity by 2050, the transition to clean energy has become more important than ever.
However, investment remains a significant problem with the continent only receiving 2% of global clean energy spending! As Africa industrialises, the need for electrification and thus clean energy, will inevitably increase.
Whilst it is beneficial and often easier for us to focus our efforts locally, the climate crisis is a global one that requires cooperation between a number of players to achieve the common goal of the Paris Agreement (which recognises that developed countries should take the lead in providing climate finance to less endowed countries).
Outside of the environmental benefits of increasing investment, renewable energy can have a significant impact on social issues too.
A report by the UKERC suggests that for every £1 million invested, renewable energy creates three times the number of jobs compared to fossil fuels.
With Africa currently expected to have the largest working-age population by 2035, is now the time for businesses to begin investing in the area?
Given that unemployment and economic disparities also has a significant impact on social conflict issues and the global economy, an increase in renewable jobs in the region can also mean:
- Increased global security.
- Increased consumer spending.
- Increased demand for goods and services from international businesses.
How else can we encourage investment in African renewable energy?