Page 5 - AfrElec Week 41 2022

AfrElec COMMENTARY AfrElec

the Paris Agreement, leaving a 70% gap in the Bringing access to modern energy for all
amount of emissions reductions required by Africans calls for an investment of $25bn annu-
2030, said the report. ally, which is around 1% of global energy invest-
Renewable energy pledges represent less than ment today, said the report.
half of what is needed. The pathway to reach the Renewable energy systems are weather- and
Paris Agreement’s long-term global goal on tem- climate-dependent, so the transition to clean
perature requires 7.1 TW of clean energy capac- energy calls for improved climate information
ity to be installed by 2030, according to figures and services, said the report. This is to sup-
cited in the report. port decisions on site selection and operations,
The necessary policies and regulations to ena- maintenance and management. Less than 50%
ble decarbonisation in the energy sector are still of WMO members provide tailored products for
particularly weak in Africa, South America and the energy sector.
Asia, according to the World Bank. More effective use of climate information
In 2019-2020, most renewable energy invest- helps scale up renewable energy infrastructure,
ments were made in the East Asia and Pacific but they will also promote clean energy system
region (mainly China and Japan), followed by efficiency and climate resilience. Increased, sus-
Western Europe and North America. tained investments in such services, supported
International public financial flows to devel- by recognition of the need for such services
oping countries in support of clean energy through enhanced policies, are required to
decreased in 2019 for the second year in a row, achieve this.
falling to $10.9bn. This level of support was 23% The use of streamflow forecasts increases the
lower than the $14.2bn provided in 2018, 25% energy production by 5.5 TWh per year from the
lower than the 2010-2019 average, and less than US hydropower dams on the major Columbia
half of the peak of $24.7bn in 2017. River in Washington and Oregon, resulting in an
Developing countries are underrepresented average increase in annual revenue of approxi-
when it comes to accessing clean energy finance, mately $153mn per year.
says the report, stressing that Africa could be a Similarly, the use of forecasts to manage
major renewables player. Africa is home to 60% hydropower operations in Ethiopia produces
of the best solar resources globally, yet has only cumulative decadal benefits ranging from $1bn
1% of installed photovoltaic (PV) capacity, it to $6.5bn, compared to a climatological – no
notes. forecast – approach.™

Week 41 13•October•2022 www. NEWSBASE .com P5