North and Sub-Saharan Africa Energy Security Policies in the 21^st Century

Renewable energy sources are of vital importance for solving the problem of energy stability, especially solar energy, which should become the cheapest source of electricity in almost all African countries by 2030. International financial institutions should step up the mobilization of private capital, act as first movers to absorb risk and protect investments. This would help promote projects that support vulnerable populations, lay the foundations for sustainable economic growth and ensure that Africa becomes an attractive destination for energy investment. Many people associate technologies like solar and wind power with the efforts they make to combat climate change. But for the world's most vulnerable populations, they are much more than a clean energy solution. In terms of energy sources, the continent of Africa has a huge potential that has remained largely untapped. Despite having large expanses for 60% of the best solar resources globally, Africa has about the same installed solar PV capacity as Belgium, a small country not known for its amount of solar energy utilization. There is also great potential for hydro, wind and geothermal energy in many African countries, and these energy sources can play an important role in diversifying and securing electricity supply. Responsible use of the continent's natural resources will be essential to its development.