South Africa's renewable electricity production has shown a substantial upward trend from 2013 to 2023, growing from 0.55 units to 8.44 units by 2023. The growth has been particularly notable, with a significant year-on-year increase of 132.73% in 2014 and another spike of 82.03% in 2015. More recently, the growth rate has stabilized but remains positive, with a 9.04% increase in 2023. The Compound Annual Growth Rate (CAGR) for the past five years stands at 11.81%, indicating steady progress.
Looking forward from 2024, forecasted data suggests continued growth, reaching 11.9 units by 2028. The five-year forecasted CAGR from 2024 to 2028 is 5.42%, pointing to a moderated but consistent expansion with a total growth rate of 30.2% over this period.
Future trends to watch include advancements in renewable technology, policy changes, and investments in infrastructure, which could further accelerate growth. Additionally, monitoring the impact of global energy market dynamics on South Africa's renewable sector will be crucial.