Renewable energy finance in Africa as a global leverage point

Abstract

As Africa approaches the 2.5-billion population mark by 2050, its demand for energy and resources becomes both a challenge and an opportunity for climate change mitigation. Can the additional billion energy users help to achieve global sustainability as the lead users of timely investments in renewable energy? This study proposes investments – specifically, investments in renewable energy development in African countries – as a leverage point in the global effort to avoid the worst effects of climate change. The analysis asks how the capacity for renewable energy production can meet the rising demand for energy in the context of growth faced by African countries., and combines projections for population growth, urbanization, and economic growth. The study emphasizes how bridging Africa's renewable energy finance gap can shift the set of expected long-run scenarios for the global climate crisis.