Off-grid solar panels could allow more than 100 homes worldwide to have power, according to Bloomberg New Energy Finance. Most of these consumers will be African and Asian emerging economies such as Kenya, Tanzania, Ethiopia, India and many more.

“Much of the growth will continue to come from today’s large markets, while stronger economies with unstable electricity grids such as Nigeria may see higher demand for large solar home systems”, said Itamar Orlandi, Analyst at Bloomberg New Energy.

The off-grid solar panels market which was almost non-existent a decade ago now weighs more than $700 million. Before the end of the decade, it could increase to $3.1 billion.

Currently, more than 100 firms are present in this industry with 20 million products used by about 89 million people. Equipment varies from solar lamps to more complex systems that can power many lamps and home appliances even.

Gwladys Johnson