Malawi has dropped 15 Places to 61 out of 71 countries on electricity according to a new study of clean energy activity in key developing nations published by the Bloomberg New Energy Finance (BNEF).
“The country marked decrease in three aspects financing opportunities, value chain readiness and greenhouse gas management. Enabling frameworks went up two places due to the unbundling of the power sector and implementation of tenders,” reads the report.
But according to Malawi Energy Regulatory Authority (Mera), the country’s electricity usage or penetration rate is currently at nine percent, out of a population of about 15 million with a rural share of only one percent.
The present power supply situation has come about due to lack of investment in the energy sector for 15 years, but with the unbundling of the power sector, independent power producers can finally enter the market.
In the report, new solar-powered generating capacity is growing at a pace in emerging markets.
The growth is fuelled by low-priced equipment and innovative new applications that are expanding energy access for millions, according to the report.
A total of 34 gigawatts (GW) Of new solar power generating capacity came on line in 2016 in 71 emerging market countries studied by BNEF as part of its annual Climatescope, Which Was released at the BNEF Future of Energy Summit in Shanghai, China.
“That is up from 22GW in 2015 and three gigawatts as recently as 2011.
Total cumulative solar capacity grew 54 percent year-on-year and has more than tripled in three years.
Capacity added in 2016 alone would meet the total Annual electricity demands of 45 million homes in India, or of every home in Peru.