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GOGLA: Challenging conditions slow progress on off-grid solar investment in 2023

GOGLA, supported by GET.invest, has released the results from its 2023 Investment Database, showing that the total investment into the off-grid solar sector was $425 million, a 43% drop versus the previous year. 

The scale-ups sector witnessed the most notable decline, raising concerns that macroeconomic conditions are steering the industry away from its goal of promoting universal energy access by 2030.

With this level of investments in the sector we are definitely not on track towards universal access by 2030. Achieving the SDG7 commitment requires an annual investment of $3 billion, a figure seven times higher than current investment levels.

Read the full blog at GOGLA's website or watch the recordings of their recent webinar.