There are nearly 760 million people in the world that have no access to electricity in their homes, and countless enterprises and livelihoods that lack modern power. These people are some of the most vulnerable to climate change, yet have contributed least to the climate emergency.
The industry has grown rapidly in the past decade into a US$2 billion annual market that serves 420 million people worldwide and is recognised as a pillar of the energy sector. Off-grid solar products power lighting, mobile phones, home appliances, and productive use equipment such as water pumps, cold chains, and agri-processors. These services transform people’s lives through improved health and education, reduced energy expenditures, improved incomes and jobs, and better connectivity and access to financial services.
The off-grid solar industry represents a US$20 billion investment opportunity with unique benefits:
Off-grid solar is a tool for climate adaptation, mitigation, and justice but has not yet received substantial climate investment. This Summit will convene industry stakeholders to explore the climate nexus and discuss the sources and instruments for increased capital flows. It will present a recap of the UN High-Level Dialogue on Energy and COP 26 and analyse how the sector can capitalise on this momentum.
The event is a must for investors, companies, and development partners with an active interest in mobilizing the off-grid solar and climate nexus. The previous virtual event in this series had nearly 900 participants attending from more than 100 countries.