{"id":8158,"date":"2022-08-03T16:44:03","date_gmt":"2022-08-03T16:44:03","guid":{"rendered":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/key-renewable-energy-market-drivers-in-south-africa-in-2022"},"modified":"2022-08-03T16:55:42","modified_gmt":"2022-08-03T16:55:42","slug":"key-renewable-energy-market-drivers-in-south-africa-in-2022","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/key-renewable-energy-market-drivers-in-south-africa-in-2022","title":{"rendered":"Key Renewable Energy Market Drivers in South Africa in 2022"},"content":{"rendered":"

Africa-Press – Sierra-Leone. <\/strong><\/span>The need to transition to cleaner sources of fuel in South Africa is made more paramount with the ongoing energy crisis.<\/p>\n

With the South African government looking to increase its share of renewable energy in its energy mix from 11% to 41% by 2030, a number of key drivers are enhancing the uptake of clean energy resources.<\/p>\n

National Renewable Energy Targets<\/b><\/p>\n

With load shedding significantly impacting South Africa\u2019s economy, a target set by the government to deploy 11.8 GW of large-scale renewable energy capacity by 2030 is driving market interest for investors, independent power producers (IPP) and international energy companies.<\/p>\n

Coal Plant Decommissioning<\/b><\/p>\n

According to the state power utility, Eskom, South Africa plans to decommission between 8,000 MW and 12,000 MW of coal over the next decade. Relying on coal for 83% of its power needs, the country currently ranks 14th as the largest emitter of greenhouse gas emissions worldwide. By implementing decommissioning targets, the country has laid the foundation for alternative energy adoption while creating new opportunities for renewable energy takeoff.<\/p>\n

The decommissioning has been made more effective through the country\u2019s Just Energy Transition Partnership Investment Plan \u2013 a partnership with developed countries including France and Germany that aims to unlock $8.5 billion in climate finance to expand South Africa\u2019s transition to renewables and support workers reliant on the coal value chain.<\/p>\n

Market-Driven Regulation<\/b><\/p>\n

Through multiple regulatory reforms, the South African government is actively seeking to address capacity shortages. Regulations including the Renewable Energy Independent Power Producers Procurement (REIPPP) program and the Risk Mitigation IPP program, continue to expand renewables penetration in the country. The latest in this regard is the launching of Bid Window six of the REIPPP in April 2022 with a goal to deploy 2,600 MW while the National Energy Regulator of South Africa moved to approve over 15 projects for IPPs in May and June 2022, alone.<\/p>\n

Electricity Regulations on New Generation Capacity<\/b><\/p>\n

Meanwhile, in order to increase individual adoption of renewable energies, in June 2021, the government of South Africa amended the Electricity Regulation Act, increasing the threshold for embedded power generation from 1 MW to 100 MW, therefore, opening the doors for the increased participation of the private sector in expanding the country\u2019s generation portfolio.<\/p>\n

Green Hydrogen Advancement<\/b><\/p>\n

The launching of various initiatives aimed at accelerating green hydrogen development in the country is creating new opportunities for solar, wind and electrolysis capacity. The country\u2019s Hydrogen Society Roadmap \u2013 an overarching framework for the creation of a green hydrogen economy \u2013 along with the Department of Science and Innovation\u2019s Platinum Valley and the Department of Trade, Industry and Competition\u2019s Green Hydrogen Panel, coupled with increased green hydrogen import demands from developed economies, are also acting as strategic drivers for large-scale renewables rollout.<\/p>\n

Declining Costs of Renewable Energy<\/b><\/p>\n

Over the last decade, the cost of wind technologies has fallen 70% while the cost of solar has fallen 85%. In addition to declines in equipment costs such as solar panels since 2012, a decline in solar tariffs by over 88% and onshore wind energy tariffs by 68% \u2013 according to global non-profit organization, Greenpeace \u2013 serve as key drivers to renewable adoption in South Africa. As costs continue to decline, the appeal of clean energy is expected to grow, leading to accelerated interest in South Africa\u2019s green energy sector.<\/p>\n

 <\/p>\n

For More News And Analysis About Sierra-Leone<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Sierra-Leone. The need to transition to cleaner sources of fuel in South Africa is made more paramount with the ongoing energy crisis. With the South African government looking to increase its share of renewable energy in its energy mix from 11% to 41% by 2030, a number of key drivers are enhancing the […]<\/p>\n","protected":false},"author":84,"featured_media":8157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6,8],"tags":[291,293,292],"class_list":["post-8158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","category-homepage-english","tag-africa-press","tag-africa-press-sierra-leone","tag-sierra-leone"],"yoast_head":"\nKey Renewable Energy Market Drivers in South Africa in 2022 - Sierra Leone<\/title>\n<meta name=\"description\" content=\"The need to transition to cleaner sources of fuel in South Africa is made more paramount with the ongoing energy crisis. ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/key-renewable-energy-market-drivers-in-south-africa-in-2022\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Key Renewable Energy Market Drivers in South Africa in 2022\" \/>\n<meta property=\"og:description\" content=\"The need to transition to cleaner sources of fuel in South Africa is made more paramount with the ongoing energy crisis. ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/key-renewable-energy-market-drivers-in-south-africa-in-2022\" \/>\n<meta property=\"og:site_name\" content=\"Sierra Leone\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-03T16:44:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-03T16:55:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2022\/08\/postQueueImg_3-62eaa8799c10e.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"650\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/key-renewable-energy-market-drivers-in-south-africa-in-2022#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/key-renewable-energy-market-drivers-in-south-africa-in-2022\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Key Renewable Energy Market Drivers in South Africa in 2022\",\"datePublished\":\"2022-08-03T16:44:03+00:00\",\"dateModified\":\"2022-08-03T16:55:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/key-renewable-energy-market-drivers-in-south-africa-in-2022\"},\"wordCount\":557,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/key-renewable-energy-market-drivers-in-south-africa-in-2022#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2022\/08\/postQueueImg_3-62eaa8799c10e.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Sierra-Leone\",\"Sierra-Leone\"],\"articleSection\":[\"all news\",\"files\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/key-renewable-energy-market-drivers-in-south-africa-in-2022#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/key-renewable-energy-market-drivers-in-south-africa-in-2022\",\"url\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/key-renewable-energy-market-drivers-in-south-africa-in-2022\",\"name\":\"Key Renewable Energy Market Drivers in South Africa in 2022 - 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