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Abstract African countries are in a unique position to reap the socio-economic and environmental benefits of renewable resources as a means for meeting increasing energy demand in a sustainable way. A critical obstacle for the deployment of renewable energy technologies in Africa is the difficulty of attracting sufficient and affordable finance. This paper compares the impact of financial conditions on the cost of electricity generation across six renewable and three fossil-based technologies in 46 African countries. The results show large cost variations and highlight the extent to which renewables are disadvantaged by current financial practices. The energy-economy-environment model TIAM-ECN is used to show how lowering financing costs results in a much higher deployment of renewables. For example, solar PV could account for 10–15% of total electricity generation by 2050, even without explicit climate policy, thanks to financial de-risking programmes. The results demonstrate that changes in financing schemes could outweigh the impact of technology learning. This paper also demonstrates that, once ambitious climate policies are in place, reducing financing costs for renewables could be an efficient way to lower greenhouse gas emissions. Financial de-risking is thus a key ingredient for unlocking the renewable energy potential in Africa. Highlights • We show how renewables are disadvantaged by today's financial practices in Africa. • We show how lower financing costs result in a higher deployment of renewables. • PV can account for 10–15% of electricity generation by 2050 without climate policy. • Changes in financing schemes could outweigh the impact of technology learning. • Financial de-risking is key for unlocking the renewable energy potential in Africa. [ABSTRACT FROM AUTHOR]

Abstract: The combined effects of climate change, the continued volatility of fuel prices, the recent food crisis and global economic turbulence have triggered a sense of urgency among policymakers, industries and development practitioners to find sustainable and viable solutions in the area of biofuels. This sense of urgency is reflected in the rapid expansion of global biofuels production and markets over the past few years. Biofuels development offers developing countries some prospect of self-reliant energy supplies at national and local levels, with potential economic, ecological, social, and security benefits. Forty-two African countries are net oil importers. This makes them particularly vulnerable to volatility in global fuel prices and dependent on foreign exchange to cover their domestic energy needs. The goal therefore is to reduce the high dependence on imported petroleum by developing domestic, renewable energy. But can this objective be achieved while leaving a minimal social and environmental footprint? A fundamental question is if biofuels can be produced with consideration of social, economic and environmental factors without setting unrealistic expectation for an evolving renewable energy industry that holds such great promise. The overall performance of different biofuels in reducing non-renewable energy use and greenhouse gas emissions varies when considering the entire lifecycle from production through to use. The net performance depends on the type of feedstock, the production process and the amount of non-renewable energy needed. This paper presents an overview of the development of biofuels in Africa, and highlights country-specific economic, environmental and social issues. It proposes a combination framework of policy incentives as a function of technology maturity, discusses practices, processes and technologies that can improve efficiency, lower energy and water demand, and further reduce the social and environmental footprint of biofuels production thereby contributing to sustainable development. [Copyright &y& Elsevier]