A recent report by the Global Solar Council (GSC) predicts that Africa’s solar capacity is set to accelerate in the coming years, potentially adding 23 GW by 2028—more than doubling the current capacity. However, the report emphasizes that securing financing and establishing a robust regulatory framework will be crucial to attracting investment and achieving this growth.
Africa’s Solar Market Expands, Emerging Markets Show Strong Performance
According to the Africa Solar PV Market Outlook 2025-2028 report, after a slowdown in 2024, Africa’s solar installations are expected to rebound in 2025 with a projected annual growth rate of 42%. In 2023, Africa added 2.4 GW of solar capacity, down from 3 GW in 2022, due to a peak in South Africa’s installations in 2023 followed by a more moderate pace, as well as delays in project development, particularly in North Africa.
South Africa and Egypt continue to dominate Africa’s solar market, accounting for over 75% of the continent’s new capacity additions in 2024. However, several emerging markets are making significant progress, further enhancing the outlook for the industry across the region.
West Africa’s Solar Market Gains Momentum
West Africa has shown remarkable growth, with Ghana leading the way by nearly quadrupling its solar capacity with an additional 94 MW, followed by Burkina Faso (87 MW) and Nigeria (73 MW). In other regions, Zambia plans to double its solar capacity by 2023, adding 69 MW, while Angola, Côte d'Ivoire, and The Gambia have also ranked among Africa’s top ten countries for new solar installations.
Looking ahead, GSC expects Africa’s solar market to become increasingly diverse. In 2024, at least 18 countries are projected to install over 100 MW of new solar capacity, compared to just two countries in 2023. Additionally, many projects postponed to 2024 are expected to come online in 2025, further driving growth. GSC forecasts that Africa’s solar capacity will double within four years, driven by large-scale projects that will accelerate installation rates to unprecedented levels.
Financing and Policy Challenges Remain, Innovative Mechanisms Are Key
Despite Africa’s promising solar future, GSC warns that achieving these projections will require overcoming financial barriers and improving policy frameworks. Investment costs in Africa are currently 3 to 7 times higher than in developed nations, making expansion more difficult. While global clean energy investments are expected to double to $40 billion in 2023, Africa accounts for only 3% of this total.
GSC Project Manager and lead author of the report, Léo Echard, explained: “High interest rates, currency risks, and a lack of collateral make it difficult for many solar projects to secure financing. If we can lower the cost of capital, Africa could become one of the world’s most dynamic solar markets.”
The report highlights the need for innovative financing models and effective risk mitigation tools to attract greater private sector participation. Additionally, expanding local solar component manufacturing, modernizing grid infrastructure, and strengthening policy and regulatory frameworks will be essential to unlocking Africa’s full solar potential.
