Share

South Africa seen as attractive PV solar market

A new study assessing the future role of solar photovoltaics (PV) in the global electricity system suggests that the technology’s installed base could grow to between identifies South Africa as among the most attractive markets for deployment

Share
ACWA power launched a CSP plant in South Africa early this year
ACWA power launched a CSP plant in South Africa early this year

A new study assessing the future role of solar photovoltaics (PV) in the global electricity system suggests that the technology’s installed base could grow to between 1,760 GW and 2,500 GW by 2030 and identifies South Africa as among the most attractive markets for deployment.

Solar PV capacity currently stands at 227 GW globally, while South Africa has procured nearly 2.3 GW since 2011, following four Renewable Energy Independent Power Producer Procurement Programme bid windows.

The evaluation of additional projects, with a combined capacity of more than 500 MW, is currently under way.

Titled ‘Letting in the Light’, the International Renewable Energy Agency (IRENA) report states that the contribution of solar PV to global power generation could rise from 2% currently to between 8% and 13% in 2030. In addition, 95% of that expansion is expected to be located in developing and emerging economies.

Besides South Africa, which could have as much as 25GW, by 2030, Brazil, Chile, Israel, Jordan, Mexico, the Philippines, the Russian Federation, Saudi Arabia and Turkey are described as the most attractive markets for deployment.

However, the agency report also notes that the possible sevenfold to eightfold increase in capacity would require the average yearly additions to more than double, from 47GW in 2015 to over 100GW for the next 14 years.

Solar PV currently represents more than half of all investment in the renewable-energy sector, reaching $67bn for rooftop solar, $92bn for utility-scale systems and $267mn for offgrid applications in 2015.

Newsletter

Most Popular