Africa Market Outlook for Solar PV 2025-2028
With contributions from industry experts and stakeholders, the report explores the challenges of financing solar projects, grid integration, and
Capital costs for solar are 3 to 7 times higher in Africa than in developed countries, and the continent only receives 3% of global energy investment - fare from the $200 billion per year needed to achieve energy access and climate goals.
Off-grid solar is positioned to be the most cost-effective way to provide about half of electricity access under Mission 300 —the joint World Bank Group and African Development Bank initiative to connect 300 million people in Sub-Saharan Africa to electricity by 2030.
Published in partnership with RMI and supported by GET.invest, this report serves as a key reference for policymakers, investors, and industry professionals seeking insights into Africa's evolving solar sector. 2.4 GW of new solar capacity was installed in Africa in 2024.
But solar's economic viability versus the traditional grid network depends on the level of demand for electricity. At low electricity usage (tier 2 or 200Wh per day), off-grid solar beats traditional electricity grid networks. It meets the energy needs of a higher proportion of the population (60%) at lower cost.
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