Africa has the highest concentration of sunlight in the world. It is estimated that Africa is the world's leading country in solar power generation technology and quantity. South Africa is the only country on the continent with more than 50 megawatts of photovoltaic power. California in the United States has more solar power plants than all of Africa, and it has installed twice as much solar capacity as all of Nigeria.
As Africa's largest power producer and most economically developed country, South Africa accounts for 60 percent of the electricity generation in Africa. It is also a member of the South African power pool (pool) and a major power exporter in Africa. It supplies electricity to Botswana, mozambique, namibia, Swaziland, Zimbabwe and other neighboring countries. However, with the acceleration of domestic industrialization in recent years, South Africa's electricity demand has increased, with a total demand of about 40,000 mw, compared with the national power generation capacity of about 30,000 mw. To this end, the South African government intends to expand the new energy market dominated by solar energy and build a production mechanism that fully utilizes coal, natural gas, nuclear energy, solar energy, wind energy and water energy to generate electricity, so as to ensure the electricity supply of South Africa. For the entire African continent, the annual investment in the power market is as high as $90 billion, and by 2030, countries will have invested as much as $563 billion in power infrastructure.
The South African government has been actively promoting solar energy throughout the country, vigorously popularizing solar water heaters, solar traffic lights and solar street lamps. In order to encourage the South African public to buy solar energy equipment, the South African national electric power company also announced a preferential policy in May that year: the subsidy provided by the state electric power company will account for 20% of the cost of purchasing a solar hot water system. South Africa is investing more than $21.5 billion to build the world's solar capital.
South Africa also plans to invest r28 billion in seven wind farms and nine solar projects.Between 2017 and 2030, sub-saharan Africa is expected to invest a total of $212bn in new power generation capacity, with renewables accounting for three-quarters of the total. The falling cost of renewable energy generation technologies will make renewable energy generation, including hydropower, the biggest winner from this change in investment trends. Renewable energy will account for 71 percent of the new installed capacity. Due to the high capacity factor of photovoltaic power generation, its newly installed capacity ranks first among all the newly installed capacity of energy generation. Between 2017 and 2040, the new installed capacity of photovoltaic power generation is expected to reach 49GW.
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