How to make modern energy access achievable and its significance for developing countries?
By: Social Impact Network
Tags: Blockchain, Social Impact Investing, Developing Countries, Social Impact, Solar Energy

Having access to electricity is something that we take for granted and we believe that all over the world it is like that. In fact, if you are reading this article you don’t belong to the 10% of those who were less lucky than you. According to the International Energy Agency (IEA), the number of people worldwide without access to electricity has decreased from 860 million in 2018 to 770 million in 2019.

Unfortunately, despite all the efforts to enable access to energy worldwide, it is likely that the situation with Covid-19 will reverse this progress and push many countries back from achieving the goal of universal electricity access by 2030 (IEA, 2020). Now more than ever, access to energy is necessary in hospitals and healthcare facilities so that they can provide the help needed to curb the pandemic.

If we think for a moment what is important for the proper functioning of a hospital, it is common to overlook the importance of energy. First of all, it’s essential that the medical equipment can carry out the medical check-ups not to endanger the lives of patients. Besides, it’s also vital for all the systems like the air conditioning, security systems, surveillance etc. to stay accessible 24/7. For us it’s absolutely true that every time we go to the hospital, we will have these facilities. In developing countries, on the contrary, the reality can be very different, since there may be a blackout in the area that makes providing a full service to patients impossible.

Based on that, there’s no doubt that energy is essential for every individual’s daily activities, as well as for an economic, social and environmental stability for each country. The positive repercussions it can have in developing countries, especially when we incorporate sustainable energy, are even more noticeable than in industrialized countries.

Just to give an example, since 2014 the International Renewable Energy Agency (IRENA) together with the Abu Dhabi Fund for Development (ADFD) are co-financing renewable energy projects in developing countries. So far, 21 projects are underway, and the impact has been indeed impressive: 4 million people benefitted from renewable energy, more than 400 schools and health centres being electrified, 5000 new jobs created and 30 million litres of fuel per year replaced with renewable energy options (IRENA, 2019).

Therefore, the incorporation of solar panels is not only an environmental solution, but also a smart one. The World Bank’s “Solar PV Potential by Country” report shows that around 70 countries have excellent conditions for solar PVs, and the countries included in the list are mainly situated in the Middle East, North and South Africa and Sub-Saharan Africa. In general, new energy technologies can generate significant changes in developing countries and improve their living conditions.

It’s high time to take an action and contribute to making energy access possible to the remaining 10% of the population, and it would be even better if it’s done with the help of sustainable energy. You can be part of this mission from any place and spread goodness in the world. For this take a closer look at Social Impact Solar Fund that Social Impact Network is launching. The platform that connects hearten investors from around the world like you, with projects that positively impact the lives of people in developing countries. In dire times like now it will make a huge difference.