Forecast: Renewable Energy Consumption in South Africa

Renewable energy consumption in South Africa has shown a significant increase from 2013 to 2023. Starting from a value of 7.94 units in 2013, it decreased slightly until 2014, then demonstrated a steady growth, reaching 11.45 units by 2023. Over this period, the rate of growth has been accelerating, with the CAGR rising from -4.32% in 2013 to 7.25% in 2023. Notably, the last two years exhibited y-o-y increases of 5.47% and 4.19%, respectively.

Recent forecasts suggest that renewable energy consumption will maintain a growth momentum, albeit at a slower CAGR of 1.43% over the next five years, with an overall growth rate of 7.37% by 2028.

Future trends to watch for include:

• Policy changes and governmental support for renewable energy projects.

• Technological advancements in renewable energy infrastructure.

• Investment trends in renewable energy sectors.

• Global shifts in energy demand and transitions towards sustainable energy.