The renewable energy supply in South Africa has demonstrated limited growth over the past decade. From 2013 to 2023, the supply peaked marginally at a unit value of 9.4 in 2015 but remained largely consistent at 9.3 units from 2016 onwards. Year-on-year variations have ranged from a decrease of 4.35% in 2014 to a 6.82% increase in 2015. The CAGR over the past decade indicates minimal variation, oscillating around 1%, with a noticeable stagnation from 2021 to 2023, showing a zero percent annual growth rate.
Looking towards the future, from 2024 to 2028, the forecast predicts continuity without significant growth, maintaining a zero percent CAGR. While the projected stability suggests resilience, there is clearly a lack of substantial scaling, hinting at potential challenges or saturation in current renewable energy strategies.
Future trends to watch for:
- Technological advancements in renewable energy sources that could disrupt the current stagnation.
- Policy shifts or governmental incentives aimed at bolstering renewable energy investments.
- Private sector engagement and potential foreign investments in the renewable energy sector.
- Potential impacts of global energy markets and climate agreements on local energy policies and consumption patterns.
