Africa's Solar Market Landscape in 2024: AFSIA Report Highlights Growth in C&I, Large-Scale, and Storage Projects
Key Ideas
- C&I solar projects in Africa continue to grow, with 6 GW of captive projects and 1.7 GW of wheeling projects announced in 2024, showcasing a 15% increase in the 3-year pipeline.
- Large-scale solar projects rebounded significantly, accounting for 72% of newly installed capacity in 2024, representing a 350% growth in installed capacity and dominating the development pipeline with 81 GW of planned capacity.
- Green hydrogen projects saw a slight slowdown with 1,180 MW of new announcements in 2024, focusing on operationalizing existing projects like the modular ammonia system in Kenya powered by solar and battery storage.
- Storage solutions in Africa experienced exponential growth, with capacity increasing tenfold in 2024, driven by advancements in lithium battery technology and reduced costs, with 18 GWh of projects in development to meet energy needs.
The latest AFSIA report sheds light on the evolving solar market landscape in Africa in 2024. The Commercial and Industrial (C&I) segment continues its upward trajectory with 6 GW of captive projects and 1.7 GW of wheeling projects announced, showcasing a 15% growth in the 3-year pipeline. Large-scale solar projects, which faced challenges during the COVID-19 pandemic, have made a remarkable recovery, accounting for 72% of newly installed capacity and dominating the future development pipeline with 81 GW of planned capacity. Green hydrogen projects, although slowing down in 2024 with 1,180 MW of new announcements, are focusing on operationalizing existing projects like the modular ammonia system in Kenya powered by solar and battery storage. The storage sector has seen exponential growth, with capacity increasing tenfold in 2024, driven by technological advancements and cost reductions. With 18 GWh of storage projects in the pipeline, the sector is poised to play a crucial role in meeting Africa's energy demands.
Topics
Africa
Renewable Energy
Technology
Economic Development
Battery Storage
Solar Market
Energy Trends
Capacity Growth
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