The global energy transition from fossil fuels to renewable energy is gathering speed, thanks to technology advances, falling costs and the growing realisation that climate change is a growing threat — and this shift is likely to have a dramatic impact on the world.
Part of the problem is that, while the country’s Renewable Energy Independent Power Producer Procurement Programme launched in 2011 is widely regarded as a model for what can be achieved through private-sector inclusion, its potential has been compromised by stop-start procurement in recent years.
The demand for SA’s coal is likely to peak then fall in the next few years as countries like China and India, currently the main importers of SA coal, themselves adapt to meet their carbon reduction targets, states the report. This would drive down the price of coal directly affecting coal miners and communities.
In SA, the renewables sector has already demonstrated that it is willing to play its part in building a resilient energy future that helps to offset impacts of a declining role for coal.