Sub-Saharan Africa’s investment in renewable energy needs to be boosted five-fold to meet the commitment of increasing global clean energy capacity to 11,500 gigawatts by 2030, according to a recent study. At COP28, governments reached a consensus to triple global renewable energy installations by 2030, to cap global warming at 1.5°C. But for Sub-Saharan Africa to play its part in achieving this target, investments must increase from $20 billion in 2023 to $100 billion annually by 2030, as outlined by Climate Analytics. The report has also found that Sub-Saharan Africa scales relatively quickly at 6.6x due to low levels of existing renewable capacity and high energy access needs. But it cautions that achieving such a rapid renewables rollout in Sub-Saharan Africa would require significantly upscaled international climate finance.

Source: The North Africa Journal February 19, 2024 10:03 UTC