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The development of Africa's photovoltaic industry is speeding up, and commercial and industrial projects are favored

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The development of Africa's photovoltaic industry is speeding up, and commercial and industrial projects are favored

by:TUNTO Green Power 3577 browse Time required for reading:4min

The development of Photovoltaic industry in Africa is accelerating, and some agencies estimate that in the "Post-COVID-19", the PV market in the region is expected to exceed $7 billion.

In South Africa, although the spread of COVID-19 has undermined investor confidence in general, industrial and commercial photovoltaic projects have maintained a relatively stable or even countertrend growth.

Some fund directors admit that despite the current economic downturn, many investors have realized the huge potential of the clean technology industry. Especially during the COVID-19 epidemic, off-grid and industrial and commercial photovoltaic projects are favored. One of the important reasons is that these projects can be 'traded online' without much face-to-face communication.

In addition to the smoothness and convenience of the transaction process, the solar trading platform provides a nearly "zero cost" business model. On the one hand, any individual or organization around the world can buy photovoltaic equipment and lease it to community buildings in South Africa, on the other hand, local financing institutions in Africa are actively supporting such projects.

In fact, under the influence of various factors, Africa's investment prospects in the field of renewable energy are in sharp contrast to those of other energy sectors. Technology investment across the continent will fall sharply this year, according to a new report from Afric Arena, an African consultancy. Flows to African tech start-ups are expected to fall from $2 billion in 2019 to $1.8 billion or even $1.2 billion this year. In the most negative scenario, technology investment may not return to 2019 levels by 2022.

Sub-saharan Africa's market potential for industrial and commercial photovoltaic could exceed $7 billion in five years from 2019 to 2024, according to a market study by industry groups Bloomberg New Energy Finance and Green Cape.In times of market turmoil, investors are likely to see Industrial and commercial photovoltaic projects in Africa as "a safe bet".At present, according to our calculation, the internal rate of return (IRR) of investment in industrial and commercial photovoltaic projects can reach 10%-12% even considering the currency depreciation factor, which is already a considerable figure. Moreover, the promotion of industrial and commercial photovoltaic projects can meet about 40% of the energy needs of users, thus saving a considerable amount of electricity costs. In the future, buildings such as shelters, nursing homes, and pet hospitals in Africa may be equipped with photovoltaic projects."

"In Africa, faced with a difficult economic environment, investors will be more willing to sign long-term energy deals as the cost of photovoltaic power continues to fall, utility energy costs increase and understanding of commercial and industrial photovoltaics improves.In the Post-COVID-19

, photovoltaic solutions for industry and commerce will be more attractive.

How to invest in photovoltaic power generation?

TUNTO GREEN POWER is a supplier of photovoltaic (PV) products in China.As an investor in pv projects, you need to consider what the pv project will bring you, which should include the profit from the installation of the equipment, and whether it will improve the status quo of the project installation site.These conditions are often poor power stability, poor insulation, and excessive power loads.

Once you have decided to invest in photovoltaic power, you can start consulting with local policies. As long as you meet the requirements of the installation policy, you can start looking for a qualified photovoltaic project installer for the follow-up process.

How to reduce the investment cost of photovoltaic projects?

As the country with the highest photovoltaic installation volume in the world, China has great advantages in equipment technology and cost. Direct access to equipment and technical support through TUNTO can reduce the overall cost of the project and greatly improve the income of photovoltaic project.

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