Solar energy is increasingly dominating the African market and its presence could potentially replace traditional energy for several reasons.
First, it’s a cheaper and cleaner alternative to which isolated communities in rural areas could benefit from. Communities in rural areas spend a huge amount on candles and also expose themselves to toxic fumes by burning wood for light.
Due to rural settings, connecting to the grid system is merely impossible and often expensive. Even urban areas face challenges too, as most African countries have poor grid systems. Access to reliable energy is paramount for economic growth yet many businesses struggle to function efficiently due to electricity shortages.
Nonetheless, I am optimistic that the rise of solar energy will transform millions of lives. There’s a huge potential considering that Africa is one of the sunniest continent.
The continent is slowly accelerating particularly in the technology sphere, access to reliable and sustainable energy will be essential to further drive this momentum.
I have mostly admired the promotion of financial inclusion through solar products by a number of companies. Solar companies such as Kenya-based, M-KOPA have used their position in the market to provide solar products to consumers in rural areas and small businesses. The interesting part is that payments are made in instalments to allow the unbanked population to build credit.