Nonprofit trade body Global Solar Council (GSC) finds in its latest market report that Africa’s solar installations are set to soar over the next four years, with 23 GW projected to be installed.

With solar installations on the continent poised to grow by 42% this year, GSC says the region is “on the verge of a solar breakthrough”; however, more solar capacity is often held back by high capital costs and insufficient financing.

“Removing this barrier will be critical to meeting Africa and the world’s climate and sustainable development targets,” GSC states.

Africa hosts 60% of the world’s best solar resources, yet only 3% of its electricity was generated by solar PV in 2023.

GSC believes Africa’s solar potential is undeniable and even though more countries are embracing solar to power job growth, industrialisation and rural communities, the region is still only scratching the surface.

The organisation finds in the ‘Africa Market Outlook for Solar PV 2025 to 2028’ report that African countries installed 2.4 GW of new solar capacity last year, which is lower than the 3 GW of capacity installed in 2023.

South Africa remains the leading installer of solar PV capacity; however, its 1.1 GW of installations in 2024 fell 33% short of that of 2023.

Egypt added 700 MW of solar capacity in 2024, largely owing to two massive utility-scale projects, while Ghana, Burkina Faso and Nigeria installed 94 MW, 87 MW and 73 MW of solar capacity, respectively.

Ghana nearly quadrupled its installations, while Burkina Faso’s market grew by 129% year-on-year in 2024.

Zambia also doubled its solar capacity, having added 69 MW in 2024, particularly as drought disrupts the country’s hydropower supply.

More solar installations are happening in Angola, Côte d’Ivoire and Gambia.

At least 18 African countries are expected to install more than 100 MW of solar capacity this year, up from just two countries in 2024.

GSC's estimated additional 23 GW of solar by 2028 in Africa, is more than double its current capacity. However, this growth depends on securing affordable finance and stronger policy frameworks to attract investment.

GSC says Africa’s capital costs for solar installations are three to seven times more expensive than in developed countries.

“Many projects struggle to secure financing owing to high interest rates, currency risks and lack of guarantees. If we can reduce the cost of capital, Africa could become one of the fastest-growing solar markets globally,” explains GSC policy officer Léo Echard.

GSC suggests in the report that African governments explore more innovative financing mechanisms, de-risking instruments and private-sector investment to lower the cost of capital for solar PV.

The organisation also suggests boosting domestic solar manufacturing and skills to enhance job creation and energy independence.

African countries could also benefit from reinforced grid infrastructure and flexibility, to ensure interconnectivity and off-grid solutions for energy access to all.

Moreover, GSC says governments can help lower solar capital costs by supporting new industries such as green hydrogen and e-mobility, to attract greater private investment.