What you need to know:
- Structured financing of smart energy will enable Uganda to hit the 100 percent target of renewable energy by 2050
Government must finance innovations in renewable energy to ensure affordability, World Wide Fund for Nature (WWF) has said.
This, Mr Ivan Tumuhimbise, the WWF country director, said will enable Uganda to hit the 100 percent target of renewable energy by 2050, noting that regulations will as well attract financing and scale up research in the sector.
“Increasing investment in alternative sources of clean energy will entail understanding and addressing issues that are limiting adoption. There is need for investment in efficient clean cooking technology so that the public can adopt them. This way, we shall increase the use of renewable energy,” he said, noting that government should review taxes on renewable energy products such as batteries and connection facilities to enhance accessibility for domestic and commercial use.
In September, Uganda launched the Energy Policy that strategises on how to increase power generation and empowerment of industries, businesses, and households to thrive and prosper.
However, experts say the policy must be fully funded.
German Ambassador to Uganda Matthias Scheuer, said government should construct local solar mini-grids and train technicians about renewable energy who will in turn conduct awareness campaigns among users.
“Uganda needs coordinated support of key institutions in terms of renewable energy,” he said.
Mr James Kakeeto, the WWF Uganda regional energy officer, said local financial institutions should be supported to lend at low interest to innovators in renewable energy.
“There are best practices that Uganda can adopt to achieve 100 percent renewable energy by 2050. For us to realise this target, it is important we put an enabling environment in place.
This includes regulations that attract financing that make it conducive for investors to inject in money,” Mr Kakeeto said, noting that there was need to see to it that banks and financial institutions locally find it attractive to lend to renewable energy projects,” he said.