info@marketresearchfuture.com   📞 +1 (855) 661-4441(US)   📞 +44 1720 412 167(UK)   📞 +91 2269738890(APAC)

Africa’s Renewables to Help in Energy Transition in 2024

By Shubhendra Anand , 28 October, 2024

The global energy sector is experiencing changes amid green energy transformation. Countries worldwide are investing heavily in the clean energy transition. However, attaining net zero emissions within the stipulated period is difficult. Developing regions like Africa are making immense efforts in the energy sector to get on track with energy transformation in 2024.

Based on the recent development of Africa's energy sector, the country aims at a faster transformation of clean energy transition. Funding and financial support for the country are essential aspects of the clean energy transition for developing countries. Experts believe that African countries' energy transition depends mainly on policies and funding. The policies and regulatory interventions help countries in the energy transition and socioeconomic development. It helps the growth of third-world countries as social and economic aspects mainly define their status. The clean energy transition in Africa aims to increase affordable and reliable energy for people across the region. Many initiatives, like the development of automotive sectors for electric vehicles, can be helpful, too. Africa's renewables, such as solar and wind energy, can generate electricity. Therefore, investments and public-private partnerships can help to enhance clean energy production.

South Africa's clean energy transformation can be a model for Africa's energy transition in 2024. The region needs to focus strictly on clean and renewable energy solutions. Experts claim that public-private sector partnerships will solve funding gaps. Additionally, it will enhance large-scale investments in the renewable energy sector. Developed countries can support African regions with international funding, too. A recent survey by the African Development Bank shows that 640 million people in Africa do not have access to energy.

Moreover, the electricity access rate is 40 percent for African countries. It has the lowest recorded electricity rate globally. Therefore, the African region aims to achieve clean electricity access by 2025. This attracts an investment of USD 60 billion and USD 90 billion annually in the upcoming two years. Therefore, researchers suggest that African countries can transform the energy sector to attain sustainability.

                         An alternative scenario for Africa's energy sector

sector.png

Latest News

Stocks.png
Tech Turmoil in 2025: Magnificent Seven Stocks Slide as Tesla Leads Market Decline

With the "Magnificent Seven”- Apple, Microsoft, Amazon, Alphabet, Meta, Nvidia, and Tesla leading the fall, the US stock market saw a significant dip in early 2025. Usually seen as market drivers, these IT behemoths found themselves in the correction…

Read More

Steel.png
Trump’s 2025 Steel and Aluminum Tariffs: How They Impact the U.S., Canada, Mexico, and Global Trade

Officially starting on March 12, 2025, the Trump administration's 25 percent tariffs on all steel and aluminum imports formally marked a dramatic change in the United States (U.S.) trade policy meant to support home manufacturing. Although these…

Read More

Sale.png
U.S. Retail Sales Rebound in 2025: Inflation Fuels Spending Amid Economic Uncertainty

The United States (U.S.) Census Bureau reports that U.S. retail sales barely increased by 0.2 percent in February 2025 to reach USD 722.7 Billion. This countered the notable 1.2 percent drop seen in January 2025. Retail sales grew 3.1 percent year…

Read More

2023.png
UK Steel Industry Faces Uncertainty Amid 2025 US Tariffs

In 2025, the British steel industry suffered major setbacks after the United States infringed a 25 percent tariff on steel and aluminum imports. This future event alarmed British manufacturers and policymakers because it might heavily impact exports…

Read More

2032.png
Ultra-Fast Charging Batteries From StoreDot will Begin Mass Production In 2025

In 2025, StoreDot, a leading battery technology company, announced the mass production of their revolutionary silicon-based batteries, which will forever change the world of electric vehicles (EVs). Their new battery innovation that stores 70% of…

Read More

Author Pic
Shubhendra Anand

Head Research