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Financing renewable energy in Africa – Key challenge of the sustainable development goals

Gregor Schwerhoff and Mouhamadou Sy

Renewable and Sustainable Energy Reviews, 2017, vol. 75, issue C, 393-401

Abstract: Given the challenge of offering a development perspective to a rapidly growing population, it might be tempting for Africa to pursue a strategy of fueling growth with the cheapest source of energy available and take care of the environment later. Such an approach, however, would disregard the social cost of fossil fuels, which the population would have to bear. Using the Sustainable Development Goals as a benchmark for inclusive and sustainable growth we identify the synergy effects provided by renewable energy. Already, substantial efforts of financing the additional cost of RE are under way. An analysis of possible leverage points, available instruments and involved actors shows that there remains a large additional potential.

Keywords: Renewable energy; Sustainable development goals; Climate finance; Africa; Energy access (search for similar items in EconPapers)
JEL-codes: Q56 Q42 O13 O19 (search for similar items in EconPapers)
Date: 2017
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Handle: RePEc:eee:rensus:v:75:y:2017:i:c:p:393-401