- New Global Solar Council (GSC) report finds that 23 GW of new solar PV capacity is projected to be installed over next four years in Africa.
- But access to low-cost finance remains a key barrier for African countries to realise this potential – removing this barrier will be critical to meet global climate and sustainable development targets.
Africa’s solar sector is gaining momentum, with annual installations set to grow 42% in 2025 according to a new report published today by the Global Solar Council (GSC) in partnership with the Rocky Mountain Institute (RMI) and supported by GET.invest. The Africa Market Outlook for Solar PV 2025-2028 reveals the continent is on the verge of a solar breakthrough – but is held back by high capital costs and insufficient financing.
Africa is home to 60% of the best solar resources globally, yet only 3% of its electricity generation was met with solar PV in 2023. The new report provides new analysis on current market status, market outlook and opportunities to tap into this vast solar potential across the continent.
A Market on the Rise
In 2024, Africa installed 2,402 MW of new solar capacity. While this marks a decrease from 3,076 MW in 2023, the shift reflects a broader regional market transformation, with emerging markets displaying remarkable growth.
- South Africa (1,108 MW) remains the leader, but installations fell 33% compared to 2023, returning to more typical levels after last year’s record-breaking boom.
- Egypt surged to second place, adding 700 MW in 2024, largely from two massive utility-scale projects.
- West Africa saw rapid growth, with Ghana (94 MW), Burkina Faso (87 MW), and Nigeria (73 MW) emerging as key players. Ghana nearly quadrupled its installations, while Burkina Faso’s market grew 129% year-on-year.
- Zambia (69 MW) doubled its solar capacity, a critical shift as droughts disrupt the country’s hydropower supply.
- Angola, Ivory Coast, and Gambia all made the top 10 for the first time, marking a clear expansion beyond the region’s traditional solar powerhouses.
Looking forward to this year, this market diversification will continue with at least 18 countries projected to install over 100 MW of new solar capacity – up from just two in 2024.
By 2028, Africa is expected to install an additional 23 GW of solar—more than doubling its current capacity. However, this growth depends on securing affordable finance and stronger policy frameworks to attract investors.
Finance: The Make-or-Break Factor for Africa’s Solar Future
Africa’s solar expansion is being held back by capital costs that are 3 to 7 times higher than in developed countries. While clean energy investment doubled to $40 billion in 2024, Africa still accounts for just 3% of global energy investment—far from the $200 billion per year needed to achieve energy access and climate goals.
The report outlines a clear roadmap to accelerate solar deployment across Africa, including:
- Expanding innovative financing mechanisms, de-risking instruments, and private sector investment to lower the cost of capital for solar PV
- Strengthening policy and regulatory frameworks to attract private sector investment
- Boosting domestic solar manufacturing and skills to enhance job creation and energy independence.
- Reinforcing grid infrastructure and flexibility, interconnectivity and off-grid solutions to ensure energy access to all.
- Catalyzing demand through new industries like green hydrogen and e-mobility to lower costs of solar
Author: Bryan Groenendaal
Source: Global Solar Council
