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Courtni Wisenbaker-Scheel

How Solar Can Benefit Emerging Economies/Countries

Economic growth differs vastly from country to country, with roughly 20 percent of the world’s nations—home to 80 percent of the entire global population—being classified as an emerging economy. Solar power, though, is starting to prove to be one of the great economic equalizers, and governments across the world are starting to notice. In fact, solar technology is now being installed twice as fast in emerging economies as it is in the rest of the world, and for good reason. Solar power is able to provide them with a cost-effective solution that is both stable and independent from outside influences, making it truly beneficial for any growing economy.

 

Energy Stability

When a country is struggling financially, there are only so many funds to divvy out and usually infrastructure tends to be neglected. That’s why most citizens experience brownouts—a severe restriction on electrical access. Even worse, many communities will experience complete blackouts that can last for months at a time. In fact, according to a European Commission report from the Joint Research Centre, the number of people in Africa without consistent access to energy reached 589 million in 2008. Many emerging countries have large regions that are so remote that finding way to provide energy for them is simply impossible. But solar power solves both of those issues. When solar farms are constructed —or when solar panels are installed on homes or businesses—then spotty coverage becomes a thing of the past and location is irrelevant.

 

Competitive Costs

In economics, price all comes down to supply and demand, and thankfully, independence from fossil fuels is putting a high demand on solar manufacturers and making it an ideal industry to be in. Competition within the market has driven down prices enough in the past decade that solar power is now a far more attainable option for many households. Considering that many of these families are spending 10 percent of their income on kerosene in order to light their home, transitioning to solar power has a dramatic impact on their life. 

 

Energy Independence

Unfortunately, expense and supply consistency aren’t the only major issues for emerging economies. Generally, these countries have been plagued by poverty and war for generations—which has made it challenging to maintain an open, central government, let alone a functioning energy market. As demands for fossil fuels has grown internationally, it has become far more difficult for struggling economies to be able to maintain open access to fossil fuel driven energy supplies. Converting to solar power, however, flips that dialogue on its head. No longer is a government, business, or residence going to need to be reliant on outside sources to meet their needs. Instead, economic independence and growth can be spawned internally and naturally.

We at Home Improvement Leads value sustainable energy practices like solar power and know what an extraordinary impact they can have, not just for a family’s finances, but for the betterment of developing countries. And with the implementation of solar on both such a small and large scale, the well-being of our environment looks sunnier every day.