New reports forecast ~32 GW of installed renewable energy capacity in SA by 2030
South African non-profit organisation GreenCape has released the 2024 edition of its annual green economy market intelligence reports. The reports, available to download free from https://www.green-cape.co.za/market-intelligence/, highlight the most promising investment opportunities in key renewable energy sectors in South Africa.
The reports are published in partnership with the UK’s Partnering for Accelerated Climate Transitions (PACT) programme.
Antony Phillipson, British High Commissioner in South Africa, said: “I am delighted that the British High Commission through our UK PACT programme has supported the latest Market Intelligence Reports focused on large-scale renewable energy, energy services and electric vehicles in the context of South Africa’s rapidly changing energy landscape. The reports present information on the most promising investment opportunities in these sectors which have the potential to create new jobs and skills as part of a just energy transition.”
The market intelligence reports provide an overview of the national markets in large-scale renewable energy, energy services and electric vehicles. This includes new online sections highlighting key developments and achievements, the key players, legislation and regulation, and the market opportunities and challenges, as well as funding opportunities.
Large-scale renewable energy 2024 MIR
Download the full report here: Click
South Africa has a rapidly changing energy landscape. Changes in legislation has enabled private procurement to become the main driver of new build renewables in 2023, led by solar PV. Transmission constraints are increasingly impactful and the transmission development plan should accommodate more renewable energy through transmission expansion.
Demand for renewables is growing rapidly, with the total installed market expected to exceed 22GW by 2030. The implementation of wheeling agreements and finalising the virtual wheeling pilot will enable offsite electricity power purchase agreements. The private market for large scale renewables signals increased stability for manufacturers of key components – mitigating the boom/bust cycles of public procurement.
Large-scale renewable energy investment opportunities highlighted for 2024:
New reports forecast ~32 GW of installed renewable energy capacity in SA by 2030
– Private procurement of new generation capacity: It is estimated that the market will add approx. 6 GW of solar PV and 4 GW for wind power by 2030. Further market liberalisation and loadshedding is driving private procurement.
– Local manufacturing of renewable energy components and systems: The South African government is working towards supporting the localisation of renewable energy manufacturing through various industrial policy interventions, The South African Renewable Energy Masterplan (SAREM) is in a final draft. SAREM envisions the industrialisation of SA’s RE and energy storage value chain.
New reports forecast ~32 GW of installed renewable energy capacity in SA by 2030
Energy services 2024 MIR
Download the full report here: Click
Systematic supply constraints, cost competitiveness, and carbon targets are driving new generation and energy efficiency opportunities in South Africa.
The term energy services (ES) is used to describe three interrelated energy market segments in the South African energy space, namely small scale embedded generation (SSEG) (encompassing system sizes Provided by SyndiGate Media Inc. (Syndigate.info).
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