News / National
Zimbabwe's solar sector poised for growth
30 Jun 2024 at 13:33hrs | Views
Solarpro Zimbabwe's latest report highlights the immense growth potential of Zimbabwe's solar sector, presenting a lucrative investment opportunity aligned with sustainable development goals. According to Solarpro Zimbabwe CEO Nyasha Chasakara, investing in Zimbabwe's solar market not only promises significant returns but also contributes to sustainable development and enhances citizens' quality of life. The company has launched innovative initiatives like a rent-to-buy solar scheme to make clean energy more accessible across households and businesses.
Zimbabwe's energy landscape heavily relies on thermal and hydroelectric power sources, but inconsistent hydro generation due to prolonged dry seasons has led to increased reliance on thermal power and frequent power cuts, lasting up to 18 hours daily. This power deficit underscores the urgent need for alternative energy sources like solar to stabilize the energy supply and support economic growth.
The report emphasizes Zimbabwe's dependence on solar panel imports from China, India, and South Africa, noting China's dominant role in global solar module manufacturing. With China holding over 80% of global solar manufacturing capacity from 2023 to 2026, Zimbabwe stands to benefit significantly from this robust supply chain to meet its escalating energy demands.
To achieve its ambitious electrification targets of 90% coverage by 2030 and universal electrification by 2040, Zimbabwe requires substantial investments in solar energy infrastructure. The government's supportive regulatory framework and increasing adoption of solar technologies further enhance the investment climate, making Zimbabwe's solar market a compelling opportunity for forward-thinking investors.
Zimbabwe's energy landscape heavily relies on thermal and hydroelectric power sources, but inconsistent hydro generation due to prolonged dry seasons has led to increased reliance on thermal power and frequent power cuts, lasting up to 18 hours daily. This power deficit underscores the urgent need for alternative energy sources like solar to stabilize the energy supply and support economic growth.
To achieve its ambitious electrification targets of 90% coverage by 2030 and universal electrification by 2040, Zimbabwe requires substantial investments in solar energy infrastructure. The government's supportive regulatory framework and increasing adoption of solar technologies further enhance the investment climate, making Zimbabwe's solar market a compelling opportunity for forward-thinking investors.
Source - the independent
