UN Global Goal 7 calls for the provision of affordable, sustainable energy for all by 2030. And a new study released today claims micro-grid systems can play a big part in achieving it.
The State of the Global Mini-Grids Market Report 2020 says capital investment of around $128 billion would enable micro-grids to supply 111 million of the 238 million households that will need to ‘gain electricity access in Sub-Saharan Africa, Asia and island nations by 2030’. Technology is making these decentralised networks, which are more suited to remote areas, easier to deliver.
“In the fallout of COVID-19, countries have a unique opportunity to ‘Recover Better’ and reset their economies while accelerating energy access. Now, more than ever, we need a thriving mini-grids sector that can power critical infrastructure and give access to the 789 million people worldwide who lack electricity,” said Damilola Ogunbiyi, CEO of Sustainable Energy for All. “We must improve regulatory frameworks, commit greater finance and scale innovative mini-grid business models. This research offers critical insights for all mini-grids stakeholders that can help the market reach its full potential and deliver Sustainable Development Goal 7 progress.”
The report was from the Mini-Grid Partnership (MGP), and published by BloombergNEF (BNEF) and Sustainable Energy for All (SEforALL).
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