Solar, Fastest Growing Energy Source Globally – Report

300MW Solar energy
  • Solar, Fastest Growing Energy Source Globally – Report

The International Energy Agency has revealed that the quantum of power from solar has grown by more than 50 per cent, and has officially increased energy output globally at a faster rate than any other fuel.

The IEA’s 2017 report on renewables confirmed that solar was now the fastest growing energy source in the world and was making a major impact in Africa.

The agency forecast that off-grid solar capacity in Africa is set to almost triple in the next five years, adding that it would “bring basic electricity services to almost 70 million more people in Asia and sub-Saharan Africa.”

The IEA found out that the amount of power from solar had officially increased energy output globally at a faster rate than any other fuel. The report specifically highlighted off-grid solar as a dynamic sector set to accelerate this growth.

Lumos, a company that offers one of the fastest growing off-grid solar services in Africa, is at the forefront of this expansion. Lumos launched its Mobile Electricity Service and the Y’ello Box in partnership with MTN in Nigeria earlier this year. The device transforms the sun’s energy into electricity and is paid for via subscribers’ mobile phones.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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