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Publication - Off-Grid Solar Market Trends Report 2022: State of the Sector
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Title
Off-Grid Solar Market Trends Report 2022: State of the Sector
Publisher
Lighting Global/ESMAP, the International Finance Corporation, Efficiency for Access Coalition, GOGLA and Open Capital Advisors
Author
Lighting Global/ESMAP, the International Finance Corporation, Efficiency for Access Coalition, GOGLA and Open Capital Advisors
Published in
October 2022
Abstract
A new report shows that the off-grid solar industry continues to grow, with 70 million more people having gained access to electricity through off-grid solar power since 2019. The Off-Grid Solar Market Trends Report 2022: State of The Sector report published today by the World Bank’s Lighting Global, the International Finance Corporation (IFC), GOGLA, Efficiency for Access Coalition, and Open Capital Advisors shows that the off-grid solar industry remained resilient despite the challenges presented by the pandemic. Today, 490 million people are accessing energy through off-grid solar solutions, an 18% increase since 2019.
However, 733 million people around the globe still do not have access to electricity. The number of people projected to be without access to electricity by 2030 has grown by 10 million when compared to pre-COVID levels as the rise in access is not keeping pace with population growth, particularly in sub-Saharan Africa. For 55% of these households, off-grid solar will be the least-cost solution to gain basic electricity access in the next five years, a fundamental step in reaching the United Nations Sustainable Development Goal 7 of universal access to affordable and reliable energy. Growing application of off-grid solar power in the appliance market has also expanded the sector’s potential to benefit other development areas, such as health and food security.
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