Emily explains how weak, unreliable grids combined with plummeting solar and battery costs make distributed solar the cheapest option in many emerging markets. Nigeria exemplifies this — grids experienced outages 40% of the time last year, and diesel generator capacity exceeds all grid-connected power plants combined.
The conversation covers how the Strait of Hormuz conflict with Iran dramatically spiked diesel costs — Nigerian diesel prices rose roughly 93% between February and April 2026 alone, compounding earlier increases after subsidy removal in 2023. This has intensified urgency around the energy transition, though Emily notes distributed energy was already a necessity, not a luxury, given underlying infrastructure deficits.
India has pushed domestic solar manufacturing through ALMM regulations, recently expanding requirements from panel assembly to cell production, creating near-term supply constraints. Battery storage is also becoming mandated for distributed systems in various states.
Chinese PV oversupply, removal of VAT exemptions, and new production restrictions on low-efficiency panels are reshaping export dynamics, pushing Chinese manufacturers toward Africa and Latin America.
Emily closes by emphasizing that scaling this transition requires roughly 100x more capital and new financing paradigms suited to millions of small distributed projects, calling it one of the era’s largest wealth-creation opportunities.
