Zimbabwe Renewable Energy Market Size (2024 - 2029)

Zimbabwe Renewable Energy Market Size Summary

The solar energy market in Zimbabwe is poised for steady growth, driven by increasing adoption of renewable energy and supportive government policies. Despite the challenges posed by the COVID-19 pandemic, the market is expected to recover to pre-pandemic levels. The government's commitment to integrating renewable energy sources into the national grid is evident through initiatives like the National Development Strategy and the National Renewable Energy Policy, which aim to boost electricity supply and penetration rates. However, the market faces hurdles such as insufficient financial backing for renewable projects, which could impede growth. Nonetheless, advancements in energy storage systems are anticipated to offer significant opportunities for the sector.

Zimbabwe's energy landscape is heavily reliant on hydropower, with the Zambezi River playing a crucial role in the country's electricity generation. The Batoka Gorge hydropower project, a joint venture with Zambia, is set to enhance the region's energy capacity significantly. The renewable energy market is characterized by a few major players, including Zimbabwe Power Company and Global Solar (Pvt) Ltd, who are actively involved in expanding the country's solar energy infrastructure. Recent government agreements and international funding, such as the UN Sustainable Development Goals Fund's investment, underscore the country's commitment to accelerating renewable energy projects. These efforts are expected to contribute to Zimbabwe's economic growth and energy security in the coming years.