Nigeria has installed 73 megawatts (MW) of solar energy in 2024, signaling significant progress in its renewable energy drive and contributing to Africa’s overall clean energy growth.
This data was highlighted in a report published on Wednesday by the Global Solar Council (GSC), which outlined the increasing adoption of solar power across West Africa. The report noted that while Nigeria expanded its solar capacity by 73 MW, Ghana achieved an almost fourfold increase to 94 MW, and Burkina Faso experienced a 120% growth, reaching 87 MW.
Despite these advances, the continent’s overall solar installations in 2024 totaled 2,400 MW, reflecting a slight decline from the previous year, primarily due to a slowdown in South Africa. However, the outlook for 2025 remains optimistic, with projections of a 42% rise in new installations, driven by postponed projects coming online and the growing appeal of solar power as an alternative to unreliable grid electricity.
According to the report, Africa is projected to install 23 gigawatts (GW) of new solar capacity between 2025 and 2028, more than doubling its cumulative installed capacity within four years.
The Growing Appeal of Solar Energy
Rising fossil fuel costs and frequent power outages have made solar energy an increasingly attractive solution for both businesses and households. The GSC report emphasizes that electricity shortages across many African nations are pushing consumers toward solar as a reliable alternative.
However, financial barriers continue to hinder expansion. The report notes that capital costs for solar projects in Africa remain up to seven times higher than in developed nations, limiting investment potential. Africa currently accounts for just 3% of global energy investment, with many projects facing challenges such as high interest rates, currency instability, and the lack of financial guarantees.
Léo Echard, policy officer at GSC and lead author of the report, stated, “If we can reduce the cost of capital, Africa could become one of the fastest-growing solar markets in the world.”
Source: nairametrics.com
