Renewable Energy Adoption and Economic Resilience in Africa: A Case Study of Morocco

Abstract

The adoption of renewable energy is crucial for achieving sustainable development and promoting economic resilience. This study explores the impact of renewable energy adoption on economic resilience in Africa, with a focus on Morocco. Morocco faces significant challenges in meeting its growing electricity demand, which is expected to increase by two to five times by 2030. To address this, the country has set ambitious targets for renewable energy penetration, aiming for 42% of total generation capacity by 2020 and 52% by 2030. The study examines the growth rate of renewable energy consumption in Africa, investigates the factors driving investment in renewables, and reviews the progress made in promoting renewable energy in Morocco. The results highlight the benefits and challenges of increasing the use of renewable energy sources and provide guidance for developing policies and strategies to create a more resilient and sustainable energy system. Empirical evidence from previous studies suggests that renewable energy adoption has a positive impact on economic resilience, offering clean, reliable energy and supporting sustainable development goals. The study emphasizes the importance of considering the composition and diversity of energy sources in models of economic resilience and proposes a theoretical foundation for systemic risk analysis in electricity markets with uncertainties.