The renewable energy supply in South Africa has shown a fluctuating but overall rising trend over the past decade. From a low in 2014 with a slight decrease in 2016, the supply steadily increased, marking a notable growth phase post-2018. As of 2023, the supply stood at 6.66 units of Total Primary Energy Supply. Over the last two years, the annual growth rate stood at 2.3% in 2023 and 2.68% in 2022. The compound annual growth rate (CAGR) for the last five years (2018-2023) was 3.64%, indicating a strong upward trend.
Looking ahead, the forecast indicates a positive trend, but at a slightly slower CAGR of 1.04% over the next five years (2024-2028). Projections show an increase to 7.15 units by 2028, representing a 5.3% overall growth.
Future trends to watch for include:
- Government policies and incentives for renewable energy projects.
- Technological advancements in renewable energy sources.
- Investments in infrastructure to support renewable energy integration.
- Global energy market dynamics impacting local renewable energy projects.
