Botswana Renewable Energy Market Size (2024 - 2029)

Botswana Renewable Energy Market Size Summary

The Botswana renewable energy market is poised for significant growth, driven by supportive government policies and the decreasing costs of solar panels and wind turbine installations. Despite the initial setbacks caused by the COVID-19 pandemic, the market is expected to recover to pre-pandemic levels and continue its upward trajectory. The solar energy segment is anticipated to dominate the market due to its declining costs and versatility in applications such as electricity production and water heating. The government's initiatives, including the development of a large-scale Concentrated Solar Power plant, are set to bolster the solar segment's growth. However, the market faces challenges from the rising adoption of alternative clean energy sources like gas-fired power plants and nuclear projects, which could potentially restrain its expansion.

Botswana's renewable energy landscape is characterized by a heavy reliance on coal, with efforts underway to diversify the energy mix through private sector involvement in renewable infrastructure development. The government's Integrated Resource Plan outlines strategic goals to increase solar and wind capacity significantly by 2027, aiming to achieve economic energy security and independence. With substantial untapped potential in solar, wind, and bioenergy, Botswana is committed to increasing the share of renewables in its energy mix, targeting 15% by 2030 and 50% by 2036. Investments in grid infrastructure and electrification projects are further supporting this transition. The market is moderately fragmented, with key players like The Solar Zone, Grit-tech (Pty) Ltd., and Botswana Power Corporation (BPC) actively participating in expanding the country's renewable energy capabilities.