AFRICAMARKETOUTLOOK2 0 2 6 - 2 0 2 9AFRICAMARKETOUTLOOKFOR SOLAR PVFOR SOLAR PV2026-2029 Foreword A Continent on the Cusp: Africa’s chance to become a global solar plus storage leader Sonia Dunlop, CEO,Global Solar Council Rethabile MelamuCEO, SAPVIA, Coordinator of GSC Africa Working Group The history of solar+ storage across Africa is being written before our eyes. Soon, clean energy investments in Africa will outpace fossil fuel investments, marking a major paradigm shift in how Africancountries power economic growth. Experiencing unprecedented growth and supported by an improving competitive landscape, private sector clean energy investment has risen from USD 17 billionin 2019 to almost 40 billion in 2024. With investment levels higher than ever before, solar+storage is spearheading this shift towards renewables. Solar adoption is exponentially increasing because of a simple economic reality: it just makes sense. Solar+storage is now the most cost-efficient source of electricity and the most democratic energysource the world has ever seen. From large-scale projects decarbonising power systems, to distributed rooftop installations cutting bills and greening daily uses, solar+storage lies at the heart ofAfrica’s economic transformation. Indeed, solar+storage is already reshaping lives across the continent: from lowering the household bills of a family in Kenya, to powering energy access in rural Sub-Saharan Africa so kids can do theirhomework at night, to powering new industries and business opportunities in Namibia to boost the economy, to increasing resilience of hospitals in the Central African Republic to make sure everyonecan receive healthcare when they need it most, to decarbonizing mobility in Rwanda so people can breathe healthier air. This is only the beginning of the transformative power of solar+storage.Anyone of Africa’s mighty nations can be the site of the next solar+storage rush, on the cusp of a transformational moment, where millions of people take power into their own hands andgenerate their own power. However, it is important to acknowledge that the solar+storage revolution across Africa will not happen on its own; it must be boldly led together with citizens, governments, investors, and industry.The Africa Climate Summit held in September 2025 highlighted the continent’s ambitions, including green industrialisation, accelerated renewable energy deployment, and climate adaptationleadership.Solar+storage can deliver on all these ambitions. The pan-African solidarity expressed in Ethiopia demonstrated how climate action transcends divisions and paves the way toward improving people’s lives with solar+storage. It sent a clear signalthat solidarity must be strengthened, and that political boldness, cooperation, and collective action lie at the heart of many solutions, at both continental and local levels. Nonetheless, cleanenergy investments in Africa only represent a fraction of global clean energy investment – 2% – despite Africa holding 60% of the world’s best solar resources and being home to 20% of the world’spopulation. This chronic underinvestment must be addressed if the continent is to fully reap the benefits of solar+storage: affordable and reliable electricity, job creation, expanded energy access,and cleaner air. This is what the Global Solar Council, and its African national association and company members in its Africa Regional Group, is setting out to do. No country must be left behind in theglobal solar+storage revolution.COP32 in Ethiopia will be the opportunity for Africa to present a united front and showcase global climate leadership, spearheading a better life for their citizens.Time will be of the essence, as the 2030 target of Nairobi’s Declaration calling to quintuple renewables to 300 GW from the 2022 level is approaching. While the scale of the challenge is significant, thepathways to deliver solar-plus-storage at scale are well established. From putting people at the centre of policy, to structurally lowering the cost of capital, deploying innovative financing mechanisms,reimagining energy planning, and accelerating grid development and permitting, this report offers a clear overview of the current state of play, emerging trends, and pathways forward. It is, in short,a modest contribution to shaping Africa’s pathway toward its bright future, powered by solar+storage. advice. Recipients should consult with their own technical, financial, legal, tax or other advisors as needed.This report is based on sources believed to be accurate. However, Global Solar Council does not warrantthe accuracy or completeness of any information contained in this report. Global Solar Council assumesno obligation to update any information contained herein. Global Solar Council will not be held liable forany direct or indirect damage incurred by the use of the information provided and will not provide anyindemnities. © February 2026 | Global Solar Council | One Ca