Forecast: Renewable Power Consumption in South Africa

South Africa's renewable power consumption has seen significant growth from 2013 to 2023. The actual value in 2023 stands at 0.17 Exajoules. Early years saw astonishing growth rates, especially between 2013 and 2017, with year-on-year increases peaking at 170% in 2014 and 129.63% in 2015. However, growth stabilized from 2018 onwards, with a noticeable dip in 2018 at -1.75% and modest growth thereafter. The most recent two years, 2022 and 2023, saw year-on-year variations at 2.6% and 7.59%, respectively. The five-year CAGR leading up to 2023 averaged at 8.7%.

Looking ahead from 2024 to 2028, forecasts indicate a continued, albeit slower, CAGR of 4.7%, reflecting a forecasted growth rate of 25.82% over the next five years. Future trends to watch for include increasing investments in renewable energy infrastructure, potential policy shifts favoring green energy, and technological advancements that could further drive the adoption of renewables.