There are still 750 million people around the world who do not have electricity, most of them living in rural areas with no access to an electricity grid. Their only options for lighting are kerosene lamps and paraffin candles and the burning of solid fuels for cooking and heating.

The smoke from burning solid fuels like wood, crop residues, dung, charcoal and coal in the home causes indoor air pollution leading to ill health from pneumonia – especially in children, and stroke, heart disease, chronic obstructive pulmonary disease and lung cancer, with a loss of 3 million lives a year worldwide.

These remote communities may have to wait decades to be connected to a grid but can be connected to an array of solar panels and batteries, allowing them to replace indoor burning of biofuels and kerosene with modern energy sources. For example, electric induction cookers, costing as little as $30, can be simply plugged into an electricity supply.

Electrification improves health, quality of life and alleviates poverty. In the tropics, the sun sets at 6pm, and with no street lighting and inadequate indoor lighting, life comes to a standstill. With electric lighting, people can continue to work into the evenings, businesses can extend their hours and students can study.

Many communities do not have the means to invest in the upfront costs of installing solar panels and battery storage, so international aid plays an essential role: SolarAid installs small-scale solar and electric lighting; Oxfam is installing solar power to run fridges, store medicines and power health clinics; Save the Children is funding young people to train as solar installers.

Maintenance costs for solar panels are low and the ‘fuel’ – the sun – is free and abundant, making solar energy affordable in low-income regions of the world. The global price of solar energy has been falling and is now just 4 cents per kWh, compared to fossil fuels at 10 cents per kWh, making solar energy 60% cheaper than fossil fuels.

The global growth in solar energy is astonishing. This year, we will install 600 GW, which will increase the total amount of solar installed in the world by 25%, in just one year.

Historically, the uneven distribution of oil, gas and coal reserves around the world meant that some countries benefitted while others lost out. In contrast, almost every country in the world can power itself with renewable energy.

A Stanford University study of 139 countries found that the majority could meet their electricity needs, including the increased demand for electrifying transport, heating, cooling and industry, using the renewable energy potential contained within their own borders. Only small countries with high populations, like Singapore, would need to import electricity.

Affordable renewable energy will help countries to diversify their economies, reduce their vulnerability to geopolitical shocks and create new jobs. The renewable energy transition truly has the power to transform the world.