Global Electricity Access Gains Stall: 655 Million Still Without Power

Global electricity access is expanding at a record pace, yet the number of people still living without power globally has barely budged. New analysis tracking progress toward universal electricity access found that roughly 89 million people got new access to power in 2024, though the total global shortfall edged down by just 11.5 million, the smallest yearly improvement on record going back to 2010, aside from a brief bump in 2022. As of 2024, some 655 million people still lack access to electricity. This sluggish progress underscores the immense challenge of achieving universal electricity access by 2030, a goal that remains elusive despite increased investments and policy efforts.

The statistics on people who still don’t have access to electricity around the world highlight the size of the addressable market that businesses like Turbo Energy S.A. (NASDAQ: TURB) can possibly serve as they expand their footprint around the globe. Companies in the green energy sector are poised to benefit from the growing demand for decentralized and off-grid solutions, as traditional grid expansion alone cannot bridge the gap quickly enough. The analysis suggests that while progress is being made, the pace needs to accelerate significantly to meet the 2030 target.

According to the report, the number of people gaining access to electricity each year has been declining since 2019, with 2024 seeing the smallest increase in over a decade. This trend is concerning, especially in sub-Saharan Africa and parts of Asia, where the majority of the unelectrified population resides. The report calls for a renewed focus on sustainable energy solutions, including solar home systems, mini-grids, and other distributed renewable energy technologies, which can be deployed faster and more cost-effectively than traditional grid infrastructure. Read More>>

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