Challenges of investment and financing for developing photovoltaic power generation in Cameroon, and the countermeasures

Abstract

In this paper we aim to analyze the status of investment and financing of photovoltaic power generation in Cameroon, find out the challenges it faces, and put forward solutions. Through in-depth analyses of the investment and financing data of photovoltaic power generation from Cameroon, reference countries and the world during 2008–2019 and by drawing lessons from international experiences, we find that Cameroon’s investment and financing is far from meeting the needs of its photovoltaic power generation development. The causal analyses show that the root causes leading to insufficient investment and financing of photovoltaic power generation in Cameroon are the government behavior defects. On this basis, using the appropriate problem-oriented analysis method, we put forward policy recommendations to improve the investment and financing situation of photovoltaic power generation in Cameroon. The basic conclusion of this paper is that the low investment scale, single financing structure, violent investment fluctuation and financing gap are the surface causes of slowing photovoltaic power generation in Cameroon, while the lack of consciousness about attracting international investment, the ambiguity of the application process for photovoltaic power generation projects, the lack of specific measures to stimulate photovoltaic power generation, and the backward national planning of photovoltaic power generation are the internal reasons delaying Cameroon’s photovoltaic power generation. This study not only benefits Cameroon by being a guide for optimizing and promoting the development of photovoltaic power generation, but also has universal reference value for other similar research.