Finance
Photo-voltaic panels, wind turbines deep cycle batteries, meters, sockets cables and connectors are all expensive. Even when the relative difference in buying power, materials cost, opportunity cost, labor cost and overhead are factored in, renewable energy will remain expensive for people who are living on less than US$1 per day. Many rural electrification projects in the past use government subsidies to finance the implementation of rural development programs. It is difficult for rural electrification projects to be accomplished by for profit companies; in economically impoverished areas these programs must be run at a loss for reasons of practicality. There are several theorized ways in which specific African nations can rally the resources for such projects.
Read more about this topic: Renewable Energy In Africa
Famous quotes containing the word finance:
“Imperialism is capitalism at that stage of development at which the dominance of monopolies and finance capitalism is established; in which the export of capital has acquired pronounced importance; in which the division of the world among the international trusts has begun, in which the division of all territories of the globe among the biggest capitalist powers has been completed.”
—Vladimir Ilyich Lenin (1870–1924)
“A bank is a confidence trick. If you put up the right signs, the wizards of finance themselves will come in and ask you to take their money.”
—Christina Stead (1902–1983)
“There is an enormous chasm between the relatively rich and powerful people who make decisions in government, business, and finance and our poorer neighbors who must depend on these decisions to alleviate the problems caused by their lack of power and influence.”
—Jimmy Carter (James Earl Carter, Jr.)