Off-Grid Solar Is Now the Cheapest Power for Nearly 400 Million People | HappeningNow.news

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Off-Grid Solar Is Now the Cheapest Power for Nearly 400 Million People

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.

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The World Bank’s Energy Sector Management Assistance Program and the off‑grid solar industry association GOGLA have jointly ranked off‑grid solar as the cheapest way to provide electricity to at least 398 million people who remain unserved. The report treats solar systems as permanent infrastructure, noting that 95 % of surveyed customers still had working systems four or more years after purchase. Delivering reliable off‑grid power to those 398 million people will require $11.4 billion between 2027 and 2030, including $1.3 billion a year in grants and subsidies and $1.6 billion a year in equity, debt and receivables financing.

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