Addressing the renewable energy financing gap in Africa to promote universal energy access: Integrated renewable energy financing in Malawi

Dumisani Chirambo

Renewable and Sustainable Energy Reviews, 2016, vol. 62, issue C, 793-803

Abstract: The Sustainable Energy for All Initiative is a global initiative launched by the United Nations Secretary-General in 2012 with a goal of providing universal access to modern energy services by 2030. To achieve this goal, substantial financial and technological investments will be required at a rate far exceeding historical levels. Sub-Saharan Africa has a 30.5% electrification rate and policy reform issues to improve electrification have been poorly implemented thereby sprinkling doubt as to whether the region would be able to achieve 100% access to electricity for all by the year 2030. Sub-Saharan Africa faces a tough challenge in-order to achieve universal access to modern energy services since the region fails to attract energy sector investments. There is also a general perception that the region contributes very little to global greenhouse gas emissions hence offers few opportunities to reduce these emissions consequently missing out on attracting climate finance projects.

Keywords: Climate finance; Clean Development Mechanism (CDM); Feed-in Tariff (FIT); Millennium Development Goals (MDGs); Rural electrification; Sustainable Energy for All Initiative (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (11)

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DOI: 10.1016/j.rser.2016.05.046

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