March 3rd 2016 GOGLA has proudly cooperated with the World Bank Group and Bloomberg New Energy Finance (BNEF) to help launch the 2016 Off-Grid Solar Market Trends report. The third in a series, this report tracks the ground-breaking technological advances and innovative business models which have emerged to transform the lives of millions through affordable modern solar energy services. The go-to sector report also finds that by 2020, the sales of off-grid solar products in emerging markets are expected to reach $3.1 billion, providing access to improved energy for 99 million households with no access to the grid. It shows that the off-grid solar industry is booming and a growing wave of development partners and investors are committing significant funds, with a primary focus on pay-as-you-go business models.
The report finds that annual investments into the industry have risen to $276 million in 2015, a fifteen-fold increase since 2012. It also shows that 89 million people in Africa and Asia already enjoy improved access to energy by using off-grid solar products. Solar-powered portable lights and home kits offer a safer, cheaper and environmentally friendlier service to the 1.2 billion people who live without access to the power grid and currently spend about $27 billion annually on fuel-based lighting and mobile-phone charging technologies. Koen Peters, GOGLA Executive Director, added: “This report marks the success of cooperation between GOGLA, Lighting Global and BNEF in collecting valuable market intelligence. The data and insights this report provides are critical for informing policy makers, investors and other stakeholders to help grow and strengthen our industry, and provide essential information to solar businesses.” Read the report in full by clicking Off-Grid Solar Market Trends Report 2016.