Coal support in South Africa experienced fluctuations over the past decade. After a low in 2013, support generally increased until 2017, followed by declines from 2018 to 2020. A notable rise occurred in 2021, and despite a slight increase, the value in 2023 stood at 24.44. Year-on-year growth between 2021 and 2023 was modest at around 1%. The CAGR for the last five years was approximately 3.71%, indicating an average annual growth.
Future forecasts show a steady, albeit slow, increase with a predicted value reaching 25.16 in 2028. The forecasted 5-year CAGR is expected to be 0.41%, reflecting a very modest growth rate.
Trends to watch for include:
- Shifts in energy policy favoring renewable resources
- Global and local economic conditions affecting fossil fuel subsidies
- Technological advancements in energy production
