Sub-Saharan Africa will establish more renewable energy projects this year than in the past 14 years, reports Bloomberg New Energy Finance research.
The region is developing as a booming market renewable energy technologies such as onshore wind, small-scale and utility-scale solar and geothermal power.
The report predicts that throughout 2014, 1.8 GW of renewable energy will be commissioned in the region, a gigantic figure in comparison to previous years.
Bloomberg predicts that the three largest markets for renewable power over the 2014-16 will be South Africa, Kenya, and Ehtiopia.
South Africa will install 3.9 GW consisting mainly of wind, photovoltaic solar and thermal solar.
Kenya will install 1.4 GW, made up mainly of geothermal and wind, while Ethiopia will install nearly 570 MW of wind and geothermal.
The advance of renewable energy in Africa shows the growing need for power, and awareness that the cost of clean options such as wind and photovoltaics has declined over recent years, claims Bloomberg.
The increase in production in rest of the world has created efficient processes and ramped up innovation, creating an efficient and reliable technology.
Africa is set to take advantage of these growth benefits, moving away from the traditional processes.
Sub-Saharan Africa is not new to renewable energy. South Africa has been an active market and there have been large investments in geothermal in the Rift Valley countries. The breadth of activity has increased with wind, solar and geothermal offering potential for further growth, explains, Victoria Cuming, senior analyst, Bloomberg New Energy Finance.
Besides Africa, regions such as the Middle East and South America have also recorded this kind of growth in renewable energy sector.