IRENA predicts solar power boom in Africa

The International Renewable Energy Agency (IRENA) said Thursday that falling costs make solar power more affordable and accissible in Africa.

"Rapidly declining technology costs" make solar photovoltaic (PV) power generating projects one of the cheapest means to meet power needs and increase energy access in Africa, IRENA, which is headquartered in Abu Dhabi, the United Arab Emirates (UAE), said in a statement on a new study.

The study, "Solar PV in Africa: Costs and Markets," said estimated installation costs for PV projects in Africa have gone down by as much as 61 percent since 2012.

"Today, installed costs for these projects are as low as 1.30 U.S. dollars per watt in Africa, compared to the global average of 1.80 dollars per watt," the study said.

IRENA Director-General Adnan Z. Amin said solar PV costs could drop up to 59 percent in the next 10 years.

Lower costs, coupled with Africa's vast solar potential, present a huge opportunity for the region.

"Both grid-connected and off-grid solar PV now offer a cost-competitive means to meet rising energy needs and bring electricity to the 600 million Africans who currently lack access," said Amin.

"Africa's solar potential is enormous, with solar irradiation levels up to 117 percent higher than in Germany, the country with the highest installed solar power capacity," Amin said.

Global capacity additions for solar PV have increased six-fold since 2009, a trend that is now beginning to materialise in Africa, said IRENA.

Over 800 megawatts (MW) in additional solar PV capacity was recorded in Africa in 2014 and another 750 MW was added in 2015.

IRENA estimates that with the right policies, Africa could be home to more than 70 gigawatts of solar PV capacity by 2030.

IRENA, founded in 2009, is mandated as the global hub for renewable energy cooperation and information exchange. The agency groups 148 member states and the European Union. Twenty-seven other countries are in the process of joining the organization. Endit