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Interest Rates On Bank Cash Deposits Will Never Beat Inflation. by NasMaleeq(m): 7:36am On Feb 28, 2023
Africa has 60% of the global photovoltaic resources

Africa has 60% of the global photovoltaic resources, like the oil in the Middle East, which is the envy of all countries. However, it is unthinkable that there are 600 million people living without electricity in Africa, accounting for 48% of the total population of Africa. Africa's PV installation accounts for only 1% of the global total.

At present, Africa's PV installation accounts for only 1% of the global total. These data just show that the development of renewable energy, especially solar energy, in Africa has a very broad prospect.

According to the statistics of the African Solar Industry Association (AFSIA), in the past 2022, the installed capacity of solar energy in Africa has reached 949 megawatts, and the cumulative installed capacity has reached the 10GW mark. Of course, 10 GW is not much, but for African countries, it has been a huge progress.

There are 600 million people in Africa who live without electricity, accounting for 48% of the total population in Africa. Under the influence of the COVID-19 and the global energy crisis, Africa's energy supply capacity is weakening.

At the same time, Africa is the second and fastest growing continent in the world's population, and will have more than 1/4 of the world's population by 2050. It can be predicted that Africa will face increasing pressure on energy development and utilization.

The latest report released by the International Energy Agency in June this year, "Africa Energy Outlook 2022", shows that since 2021, the number of people without electricity in Africa has increased by 25 million, and the number of people without electricity in Africa has increased by about 4% compared with 2019. In view of the high international energy prices and the increased economic burden on African countries, the International Energy Agency, when analyzing the situation in 2022, believed that the electricity consumption index in Africa would decline further.

But at the same time, Africa has 60% of the global solar energy resources, as well as other abundant renewable energy sources such as wind, geothermal and hydropower, making it the last hot land in the world where renewable energy has not been developed on a large scale.

According to the data of the International Renewable Energy Agency, by 2030, Africa can meet nearly 1/4 of its energy needs by using indigenous and clean renewable energy. Helping Africa develop these green energies and benefiting the people of Africa is one of the missions of Chinese enterprises entering Africa at present, and Chinese enterprises are proving their mission by practical actions.

On September 13, 2022, China's assistance to the Nigerian capital Abuja Solar Traffic Light Phase II Project was held in Abuja.

It is reported that the China-assisted Abuja solar traffic light project is divided into two phases. The first phase of the project has built 74 solar traffic lights at intersections, which are in good operation after the handover in September 2015.

China and Nigeria signed a cooperation agreement on the second phase of the project, and built solar traffic lights at the remaining 98 intersections in the capital region of Nigeria, realizing that all intersections in the capital region are unattended.

In June 2022, the first photovoltaic power station in the Central African Republic, Sakai Photovoltaic Power Station, was connected to the grid for power generation. The power station was contracted by China Energy Construction Tianjin Electric Power Construction Co., Ltd. with an installed capacity of 15 MW. Its completion can meet about 30% of the power demand of Bangui, the capital of Central Africa, and greatly promote the local social and economic development.

The PV power station project has a short construction period, is green and environmental friendly, and has a large installed capacity, which can solve the local power shortage problem immediately. The project also provided about 700 employment opportunities during the construction process, helping local workers master various skills.

According to the Report on the Global Situation of Renewable Energy in 2022 released by the United Nations Environment Programme (UNEP), despite the impact of the COVID-19, Africa's off grid solar products sales will still reach 7.4 million sets in 2021, becoming the world's largest market. Among them, East Africa has the highest sales volume, up to 4 million sets; Kenya has the largest sales volume in the region, selling 1.7 million sets; Ethiopia ranked second with 439000 sets sold. The sales volume in Central and Southern Africa increased significantly, for example, the sales volume in Zambia increased by 77% year-on-year, the sales volume in Rwanda increased by 30%, and the sales volume in Tanzania increased by 9%. The sales volume in West Africa is 1 million sets, with a relatively small scale. In the first half of 2022, Africa imported 1.6GW of Chinese PV modules, up 41% year on year

According to the data compiled by the African Solar Industry Association (AFSIA), the installed capacity of solar energy will reach 949 MW in 2022. Angola is the largest installation country, and has commissioned two large projects with a total installed capacity of 284 megawatts, squeezing South Africa and Egypt, which are usually the leading countries, into the second and third places respectively.

The 2022 annual report issued by AFSIA this week pointed out that every country on the African continent plans to build some new solar energy in the short term, and 29 of them are building at least 100 megawatts of new devices.
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Re: Interest Rates On Bank Cash Deposits Will Never Beat Inflation. by NasMaleeq(m): 7:36am On Feb 28, 2023
Invest in solar products and watch your investment growing hourly

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Re: Interest Rates On Bank Cash Deposits Will Never Beat Inflation. by NasMaleeq(m): 8:24am On Mar 01, 2023

Re: Interest Rates On Bank Cash Deposits Will Never Beat Inflation. by NasMaleeq(m): 5:27am On Mar 02, 2023
Invest in solar products and watch your investment growing hourly

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Re: Interest Rates On Bank Cash Deposits Will Never Beat Inflation. by NasMaleeq(m): 10:05am On Mar 08, 2023

Re: Interest Rates On Bank Cash Deposits Will Never Beat Inflation. by NasMaleeq(m): 6:20pm On Mar 10, 2023
Invest in solar products today and earn hourly

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Re: Interest Rates On Bank Cash Deposits Will Never Beat Inflation. by NasMaleeq(m): 7:51am On Mar 11, 2023

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