BD Energy - Business Media MAGS

BD Energy

  1. The Renewable Power Generation Costs in 2021 report by the International Renewable Energy Agency found that two-thirds of newly installed renewable generation capacity was cheaper than the cheapest coal-powered options in the G20. The 2022 report found renewables saved R9.8-trillion in global power costs that year. The International Energy Agency’s Renewable Energy Market Update – June 2023 reported that onshore wind and solar were the cheapest new generation options in most countries worldwide.
  2. The numbers are clear, the trends apparent. South Africa has a power crisis. The consolidated budget defi cit is 4.9 per cent of gross domestic product for the 2023 fi scal year, as reported by the National Treasury. We have an average of 2 500 hours of sunshine annually, above the global mean.   And yet the Department of Mineral Resources and Energy’s draft 2023 Integrated Resource Plan, released for comment in January, with a deadline of 23 March, diminishes new renewable builds, delays shutting down coal plants and intends to increase the proportion of gas-to-power to more than a quarter of generation total. It’s a document that has left experts wringing their hands at a time when we desperately need more electrons in the grid as quickly, cheaply and carbon-effectively as possible. In this issue of Energy, some of these experts share their views on what this draft plan could mean for our energy needs and environmental obligations, along with what they want to see from government. We also look at solar subscriptions, renewable energy investments, advances in storage technology, our e-mobility prospects and a project that’s bringing affordable renewable power to townships. Because while the minds in charge seem to be fossilising, the rest of the industry is blooming with potential.

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