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oa Educor Multidisciplinary Journal - The economics and imperatives of renewable energy : impact on South Africa’s competitiveness - research

Volume 3 Number 1
  • ISSN : 2520-4254
  • E-ISSN: 2663-2349

 

Abstract

This study analyses the impact of Renewable Energy (RE) on South Africa’s gross domestic product (GDP), social welfare, global trade and employment in South Africa. Government commitment to developing Renewable Energy Technologies (RETs) will result in a more sustainable energy supply for the economy. The study highlights the broader macro-economic benefits of deploying renewable energy – namely wind, solar and bioenergy – both for on and off grid supply. This study also identifies the major challenges that in the implementation of RE in South Africa and offers some solutions to these steep initial costs and the investment needed to develop new skills are major challenges to the implementation of RET. However, it is important to note that these costs can easily be offset – renewable energy technologies (RETs) have lower running costs than other forms of electricity generation. The study concludes that the deployment of renewable energies will greatly benefit South Africa. However, shortcomings were identified in terms of the implementation of renewable energy. There is therefore a need for the government to come up with a higher target and accelerate the implementation programmes.

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/content/journal/10520/EJC-1b3499ed99
2019-12-31
2020-09-22

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