Africa does not only has the potential but also the ability to seize future economic growth through renewable energy, suggested a new report by the International Renewable Energy Agency.
Many of the African countries currently experience notable economic and demographic growth, with six of the world’s 10 fastest emerging economies and a population expected to double to 2 billion by 2050.
According to the report, access to energy is a pre-requisite of both economic and social development. Consequently, vast untapped reserves of solar and hydropower resources, along with bionergy, wind, geothermal and marine resources in some regions could help Africa sustain its economy and ensure energy security for its large number of people. These could also deliver significant benefits for equitable development, local value creation and environmental sustainability.
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