Africa Lags as Renewables Surge Around the World
Post# of 90
(Total Views: 95)
Posted On: 01/16/2025 4:55:21 PM
Africa Lags as Renewables Surge Around the World
Africa risks being left behind as the rest of the world transitions from fossil fuels to renewables, experts say. Data shows that although the global capacity for green energy expanded at a record pace and added a whopping 500GW of new capacity last year, just 1.6% of this growth occurred in Africa. Energy experts warn that the energy divide between the continent and other regions could expand if no action is taken.
Speaking in Abu Dhabi at the International Renewable Energy Agency’s (Irena) 15th annual meeting, Director General Francesco La Camera said that global green energy capacity has to reach 11.2 terawatts (TW) by the decade’s end if the world is to meet COP28 targets. While the EU, the U.S., and especially Asia are expanding their renewable energy industries at record capacity, Africa has consistently lagged in most metrics.
Most of the world’s green energy investment is absorbed by developed nations, leaving Africa with barely any of the capital it needs to increase its green energy capacity and upgrade national energy grids. Additionally, Africa is heavily reliant on imports to meet demand for green infrastructure even though it is abundantly blessed with the raw materials needed to power the green transition.
Without substantial capital and expertise support, Africa could be left behind as other continents transition to renewables, lowering the globe’s chances of meeting its green energy goals in time. Goals such as tripling the global capacity of green energy and doubling energy efficiency will be extremely hard to achieve if Africa isn’t keeping pace with the European Union, America, and Asia.
Irena Director General Francesco La Camera mentioned the disparity in green energy investment distribution and noted that Europe, North America, and Asia collectively account for almost 85% of the world’s installed capacity while Africa made up just 1.6% despite the continent’s ‘substantial energy needs.’
Renewables could help the continent stabilize energy costs, lower its dependence on finite energy sources, and encourage nations to take advantage of local energy resources. EU Director General for Energy Ditte Juul Joergensen decried Africa’s lack of progress and said the fact that hundreds of millions of people on the continent still don’t have access to electricity is unacceptable.
During a recent Accelerated Alliance for Renewable Energies in Africa (APRA) session, Kenyan Energy Secretary Alex Wachira stressed the importance of robust regulatory frameworks to help the continent attract green energy investment. Wachira said regulatory bodies should strive to protect renewable energy investors and ensure their citizens have access to affordable electricity. He called on African countries to create business-friendly environments to encourage clean energy initiatives.
While the cost of green energy infrastructure and products is currently high, the coming years could see these costs gradually dropping as mining companies like Reflex Advanced Materials Corp. (CSE: RFLX) (OTCQB: RFLXF) focus on availing the needed minerals which will ease the manufacture of renewable energy products like solar panels, wind turbines and stationary energy storage systems.
NOTE TO INVESTORS: The latest news and updates relating to Reflex Advanced Materials Corp. (CSE: RFLX) (OTCQB: RFLXF) are available in the company’s newsroom at https://ibn.fm/RFLXF
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
Africa risks being left behind as the rest of the world transitions from fossil fuels to renewables, experts say. Data shows that although the global capacity for green energy expanded at a record pace and added a whopping 500GW of new capacity last year, just 1.6% of this growth occurred in Africa. Energy experts warn that the energy divide between the continent and other regions could expand if no action is taken.
Speaking in Abu Dhabi at the International Renewable Energy Agency’s (Irena) 15th annual meeting, Director General Francesco La Camera said that global green energy capacity has to reach 11.2 terawatts (TW) by the decade’s end if the world is to meet COP28 targets. While the EU, the U.S., and especially Asia are expanding their renewable energy industries at record capacity, Africa has consistently lagged in most metrics.
Most of the world’s green energy investment is absorbed by developed nations, leaving Africa with barely any of the capital it needs to increase its green energy capacity and upgrade national energy grids. Additionally, Africa is heavily reliant on imports to meet demand for green infrastructure even though it is abundantly blessed with the raw materials needed to power the green transition.
Without substantial capital and expertise support, Africa could be left behind as other continents transition to renewables, lowering the globe’s chances of meeting its green energy goals in time. Goals such as tripling the global capacity of green energy and doubling energy efficiency will be extremely hard to achieve if Africa isn’t keeping pace with the European Union, America, and Asia.
Irena Director General Francesco La Camera mentioned the disparity in green energy investment distribution and noted that Europe, North America, and Asia collectively account for almost 85% of the world’s installed capacity while Africa made up just 1.6% despite the continent’s ‘substantial energy needs.’
Renewables could help the continent stabilize energy costs, lower its dependence on finite energy sources, and encourage nations to take advantage of local energy resources. EU Director General for Energy Ditte Juul Joergensen decried Africa’s lack of progress and said the fact that hundreds of millions of people on the continent still don’t have access to electricity is unacceptable.
During a recent Accelerated Alliance for Renewable Energies in Africa (APRA) session, Kenyan Energy Secretary Alex Wachira stressed the importance of robust regulatory frameworks to help the continent attract green energy investment. Wachira said regulatory bodies should strive to protect renewable energy investors and ensure their citizens have access to affordable electricity. He called on African countries to create business-friendly environments to encourage clean energy initiatives.
While the cost of green energy infrastructure and products is currently high, the coming years could see these costs gradually dropping as mining companies like Reflex Advanced Materials Corp. (CSE: RFLX) (OTCQB: RFLXF) focus on availing the needed minerals which will ease the manufacture of renewable energy products like solar panels, wind turbines and stationary energy storage systems.
NOTE TO INVESTORS: The latest news and updates relating to Reflex Advanced Materials Corp. (CSE: RFLX) (OTCQB: RFLXF) are available in the company’s newsroom at https://ibn.fm/RFLXF
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
(0)
(0)