Africa solar photovoltaic Market is expected to grow at the CAGR of 10% during the forecast period 2016 – 2023/

More good, global news on the solar front.  Always good to look behind the numbers and identify the material factors driving most of the growth.  That gives some insight into the risks of seeing the increases abate.



frica solar power industry is expected to boost its alternative energy capacities by installing large number of large scale photovoltaic power stations. Increasing demand for electricity, rising awareness about environment sustainability accompanied by the benefits of resorting to renewable energy sources is expected to drive the industry demand. In addition, attributes such as superior output efficiency, economical solar PV installation cost and affordable maintenance is expected to positively impact the industry growth. Falling prices along with favorable government regulations and schemes might boost the industry over the forecast period.

Cost optimization offered by these systems is expected to intensify the industry demand. Proliferating installation of these systems is likely to encourage job creation, stimulate local economies and also deliver low cost energy. Rising blackout threats and increasing load shedding frequency might propel the industry growth from 2016 to 2023.

Although this clean source of energy is steadily growing, the ignorance about the technology among the people might hamper industry growth in the region. As the region has enjoyed many years of readily available thermal power the mind set change among the people might take a little longer. Providing guidance on the initial outlay for purchasing solar PV might furnish massive growth avenues for Africa solar PV market over the several upcoming years. For instance, the domestic government recognizes the value for public-private joint ventures in development of solar projects.