Emerging Markets - SolarPower Europe

Solar is one of the most equitably distributed energy resources in the world. All countries have access to sunlight regardless of population, surface area, or economic wealth. As one of the cheapest sources of electricity, solar can make a significant contribution to the socio-economic development of states in the Global South. This applies, in particular, with regard to Sustainable Development Goal (SDG) 7, universal access to affordable, reliable, sustainable and modern energy, and SDG 13, taking urgent action to combat climate change and its impacts.

Today many emerging markets are outpacing more established ones with the rate of their solar scale-up. However, some high-potential markets still lack the capital and infrastructure for large-scale deployment. There are several programmes and financing tools that aim to boost investor confidence in projects in emerging markets and, now more so than ever, the political will exists to encourage solar deployment and market development on a global scale.

Solar can be deployed quickly to satisfy the energy demands of the 759 million people without access to electricity today.

In 2019 the Sub-Saharan African solar market more than doubled in size, adding nearly 1.3 GW of installations and reaching gigawatt scale for the first time.

Vietnam installed a total of 11.6 GW of solar in 2020, making it the third largest annual market in the world.

By 2024 India is expected to reach 100 GW of installed solar capacity, adding 19 GW in both 2023 and 2024.

The Emerging Markets workstream

The Emerging Markets workstream works to identify business opportunities for solar companies in new, high profile and thriving markets. It also focuses on reducing the barriers to solar deployment by addressing the key regulatory and administrative challenges to help improve the bankability of projects in emerging markets.

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"The workstream helps companies to identify and explore opportunities globally through developing market analyses, and engaging with industry, governmental and regulatory stakeholders to shape the business environments in markets with a high potential."

Paolo Travaglini, Head of Area Coordination Renewables Africa, Asia, Oceania at Plentitude and Chair of the Emerging Markets workstream

Interview with Paolo Travaglini, chair of the Emerging Markets workstream

Solar is also forecast to grow faster than any other energy source in the short-term. We see a huge untapped potential for solar in emerging markets to serve residential, commercial, and industrial sectors.

Read the interview

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Algeria: solar investment opportunities

In this report we are proud to present our findings on solar investment opportunities in Algeria. Whilst the country has strong solar potential, there are several substantial financial, regulatory, technical, administrative, and political roadblocks to harnessing it.

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Middle East: solar investment opportunities

In this report we are proud to present our findings on solar investment opportunities in the Middle East and North Africa region. It makes several recommendations for Egypt, Jordan, Oman, and Saudi Arabia that are designed to harness the enormous photovoltaic potential of the region and encourage international investment in the four markets.

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Latin America: solar investment opportunities

This report covers Brazil, Chile, Colombia and Mexico, revealing the huge potential for the development of solar in the region. It includes recommendations designed to unlock the solar potential in each of these countries.

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