Africa Shows Potential for a Renewable Energy Structure
According to the United Nation’s Africa is facing a potential financial shortfall. The report states that the expected range stands close to $40 and $45 billion yearly. The global agency also noted that this realization is bound to grow exponentially, given the continent’s urban development projection. A demographic report shows that the continent has the potential to double its population come 2050. This outcome is possible, although half of the people currently have access to electrical facilities.
The continent has to commit fully towards reducing the deficit if it wants to solve the problem. Concerned stakeholders have to provide a basis for the program that runs across the board. Public parties will have to limit their take of the matter to make it feasible. However, there is another factor plaguing the continued efforts to expand energy production; the coronavirus pandemic. Financial institutions are at a restrained operational level due to the virus’s undeniable effects on the economy. African states are more likely to be affected by the coronavirus provided other issues that curtailed their development like pre-existing debts and a prolonged continental economic constraint. The continent requires significant input from the private sector to jumpstart an economic turnaround, especially in the respective energy sectors.
Likewise, Africa’s public sector organizations will have to revamp their energy consumption by re-engaging low-carbon power sources to speed up the continent’s regeneration process. The incentive provided is a chance to reconstitute Africa’s electricity generation practices to avoid potential shocks. This opportunity also provides a sustainable energy alternative that takes account of current and future generations as well. Green energy is an essential part of Africa’s future energy production. Sustainable energy can run half of Africa’s energy requirements by 2040. Such sources, when integrated, can provide a capacity of 1,475 GW of green energy output. Experts relate that this figure is equivalent to 10 times the continent’s current power generation capacity. This realization makes it clear where our efforts need to focus.
A substantial number of the continent’s national utilities face liquidity problems with rising strains on public finances. These conditions provide a considerable shift in the government’s perspective towards the extent of the private sector’s involvement in national matters. There are still speculations regarding the continent’s ability to band up towards a shared renewable energy goal. The continent shows much promise though it faces adverse challenges in meeting its desired purpose of a renewable energy-dependent system.