$21 Billion needed to bring electricity to world’s poorest by 2030

Bringing electricity to hundreds of millions of the world’s poorest requires $21.3 billion by 2030, according to the Global Association for the off-grid solar energy industry (GOGLA).

This sum is six times more than current investments. An annual $3.6 billion is needed, but access to electricity is worsening, with 685 million people lacking electricity in 2022, mostly in sub-Saharan Africa.

Off-grid solar is the cheapest solution, but requires financial support through debt, subsidies, and equity. The World Bank and African Development Bank plan to provide $30 billion to bring electricity to 300 million people in Africa by 2030.