Africa solar photovoltaic (PV) market size is likely to grow at a CAGR of over 10% from 2016 to 2023.

Government established renewable energy independent power producer program (REIPPP) is anticipated to significantly contribute to the Africa solar PV market.

Proliferating advancements outside of the procurement program is likely to open up huge growth avenues for the PV market as solar is now the preferred energy source due to increasing prices of retail electricity over upcoming years. East and South Africa solar PV market is likely to lead regional industry development.

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Africa solar power industry is expected to boost its alternative energy capacities by installing large number of large scale photovoltaic power stations. Increasing demand for electricity, rising awareness about environment sustainability accompanied by the benefits of resorting to renewable energy sources is expected to drive the industry demand. In addition, attributes such as superior output efficiency, economical solar PV installation cost and affordable maintenance is expected to positively impact the industry growth. Falling prices along with favorable government regulations and schemes might boost the industry over the forecast period.

Cost optimization offered by these systems is expected to intensify the industry demand. Proliferating installation of these systems is likely to encourage job creation, stimulate local economies and also deliver low cost energy. Rising blackout threats and increasing load shedding frequency might propel the industry growth from 2016 to 2023.

South Africa solar PV market size should experience significant gains, since 2013 a number of plants have been commissioned, which include the Jasper Project of 96 MW. This station offers power for over 30,000 homes and is one of Africa’s largest. South Africa is anticipated to be very ideal solar technology implementations, as most of the areas in the region receive more than 2,500 hours of sunlight over the year. This can be attributed to the equatorial location of the region, thus ultimately aids in generating optimal electricity and also aid the systems to work even on cloudy days.

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Although this clean source of energy is steadily growing, the ignorance about the technology among the people might hamper industry growth in the region. As the region has enjoyed many years of readily available thermal power the mind set change among the people might take a little longer. Providing guidance on the initial outlay for purchasing solar PV might furnish massive growth avenues for Africa solar PV market over the several upcoming years. For instance, the domestic government recognizes the value for public-private joint ventures in development of solar projects. RustMo1 Solar Farm with 7 MWs production capacity is one of the instances. The unit is already connected to the national grid and is now generating power for Eskom.