The energy consumption in the services sector in South Africa has exhibited fluctuations over the years. In 2023, it stood at 7.65 units of total energy consumption. Historical data from 2013 to 2023 shows variability with notable peaks and troughs. The year-on-year variation for 2023 is 1.06%, with a declining trend visible in past short-term CAGR, currently at -0.69%. Since 2024, forecasted data indicates an upward trajectory with an expected energy consumption rate reaching 8.06 units by 2028, featuring a forecasted 5-year CAGR of 0.84% and a total growth rate over five years of 4.27%.
Future trends to watch for include:
- Technological advancements that might increase energy efficiency in services.
- Government policies and incentives aimed at reducing energy consumption.
- Economic factors influencing service sector growth and energy needs.
- Shifts towards renewable energy sources impacting overall energy consumption.