How Solar is Changing the Climate Game
Thanks to plummeting unit costs, solar energy will be a crucial source of power for many countries working to meet their climate objectives by 2030.
Projects like Morocco’s Noor-Ouarzazate solar power plant, a $625 million solar rooftop project in India and a recent record solar auction in Zambia underscore how solar is being embraced rapidly as the energy of the future.
Multilateral development banks like the World Bank Group (WBG) can help client countries develop their solar resources, make projects less risky, provide access to low-cost capital for power plants and improve transmission and distribution infrastructure.
Once a distant possibility, solar power is a game changer for developing countries that are swiftly embracing this clean, renewable source of energy to close their electricity access gaps and meet climate change mitigation goals. Just the past year is a clear sign of that shift.