Off-Grid Solar Is Now the Cheapest Power for Nearly 400 Million People
Exxon, Chevron Executives Cancel Gulf Visit Over Security Concerns Alex Kimani is a veteran finance writer, investor, engineer and researcher for Safehaven.com.
The World Bank now ranks off-grid solar as the cheapest way to bring electricity to at least 398 million people who still live without it.
Ajoint reportreleased this week by the World Bank’s Energy Sector Management Assistance Program (ESMAP) and the off-grid solar industry association GOGLA treats the technology as permanent infrastructure.
Systems once sold as a stopgap until the grid arrived now power households, businesses and factories, and 95% of surveyed customers still had working solar home systems four or more years after buying them.The report estimates that bringing reliable off-grid electricity to those 398 million people will take $11.4 billion between 2027 and 2030.
That includes $1.3 billion a year in grants and affordability subsidies and $1.6 billion a year in equity, debt and receivables financing.
It is a small but critical slice of the $3 trillion to $5 trillion in average annual energy transition investment the world needs by 2030.
The sector already supports 219,000 jobs in the companiestracked by GOGLA, with full-time employment up 29% between 2021 and 2025.
Some 7.4 million people use off-grid solar to run microenterprises or other income-generating activities, generating an estimated $28 billion in additional income and savings over 15 years.
According to the report, the number of people using off-grid solar products such as solar home systems, water pumps, generators and lanterns rose by 26% over the past two years, from 118 million to 149 million.
In Sub-Saharan Africa, 47% of all solar home system sales in 2025 occurred in Kenya, Nigeria and Zambia, while most markets in West and Central Africa are not growing.
Kenya remains the largest market among tracked countries, with sales jumping 61% between 2023 and 2025 to roughly 2.4 million units.
High upfront costs remain the main hurdle for poorer communities.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
Comments
Post a Comment