Solar power and low-carbon investment are propelling Africa toward a green economy, but the continent may need some financial help to get further along.
According to The Guardian, African leaders called for more international support for climate initiatives during the Africa Climate Summit in Addis Ababa, Ethiopia.
"Renewable energy is not only Africa's greatest opportunity; it is also an urgent necessity," Melaku Yirga, the regional director for Africa at Mercy Corps, told the outlet. "Renewable power enables everything from irrigation and food storage to early-warning systems, health care, and livelihoods."
The Guardian reported that 20 African countries hit record-breaking highs for imports of solar panels over a one-year period. However, just 4% of global solar generation was in Africa in 2024.
The push toward a cleaner economy provides massive growth opportunities for investors. Investment data showed that global investment in renewable energy projects hit a record $386 billion in the first half of the year.
According to Forbes, clean energy and grid investments worldwide are projected to reach $2.2 trillion this year. Meanwhile, fossil fuel investments are only expected to reach half as much.
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The long-term momentum of the clean economy is strong, with significant growth in the workforce. Data from the U.S. Department of Energy showed that renewable energy is now responsible for more than 40% of jobs in the energy industry.
Emissions must reach net-zero by 2050 to avoid the devastating impacts of the changing climate, according to the United Nations. The transition to renewable energy will reduce the amount of planet-overheating pollution emitted into the atmosphere.
While green energy is on the rise in Africa, The Guardian reported that the continent lags behind in solar installations. Data showed that Belgium, a small country, had the same amount of solar panels installed as the entire continent of Africa.
"Africa has no shortage of ambition in renewable energy, but without stronger international finance and the right incentives, the private sector will remain on the sidelines and adaptation goals will go unmet," Yirga said.
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