A new energy mix rich in renewable energy would have huge benefits for the people of Southern Africa, and from an economic perspective it means it is likely to be implemented sooner rather than later.
This was the message on the final day of AOW: Investing in Africa’s Energy, the continent’s leading oil, gas and energy event.
The event's series of panels delved into each of the continent’s clean energy industries as part of the AOW Clean Energy Future Forum.
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Participants heard how the narrative around Africa’s energy future is no longer a rarefied one, as a mosaic of established and emerging players contribute to Africa’s rapidly evolving energy mix. Ta.
AOW is focused on enabling energy trading, and the forum will navigate regulatory frameworks, identify a pipeline of projects, and provide key insights for investors on an overview of the role of different energy sources in supporting Africa’s future. shared.
A panel dedicated to charting Africa’s energy future will discuss the huge potential for variable renewable energy (VRE) in South Africa, noting that the country is endowed with vast solar and wind resources, and that 100% He pointed out that the transition to renewable energy is a real and realistic possibility.
Wind and solar complement each other, mitigating seasonal fluctuations and increasing grid stability. Advances in battery storage technology are already advanced enough to solve intermittency and even provide large-scale grid services.
Speakers also noted that renewable energy is now highly affordable and often outperforms fossil fuels in many scenarios, with 150 GW of new renewable projects underway and new energy supplies expected to rise from this He also pointed out that it would be transformative for the country.
“Economically, it is inevitable that fossil fuels will replace variable supply, as variable supply can be turned into constant supply through cheap storage and opportunity,” said Frank Kainmani Southern Africa Regional Director. Spencer said. .
A challenge to this new renewable energy scenario is outdated regulations and licensing procedures that often impede the rapid deployment of renewable energy and microgrids. The conference also said that to fully exploit the potential of VRE, we need to invest in a robust and geographically diversified electricity grid.
“One of the big questions we face as we begin to unbundle the monopoly power company is how do we ensure that the new transmission system operator is actually doing its job properly?” says Sad Happy Kumble, director of energy and environmental policy at Business. A united South Africa.
Overall, the panel painted an optimistic picture about the future of renewable energy in South Africa. All panelists were confident in the prospect of reaching 90-100% renewable energy within a few decades.
“Compared to countries like Germany, South Africa is in a very good position in terms of solar and wind power resources,” said Dr Kilian Hagemann, CEO of G7 Energies. “Achieving 100% renewable energy for South Africa is well within reach.”
Dr. Davin Chaun of Genesis Eco Energy also pointed out that low-cost renewable energy offers emerging countries the opportunity to hedge against fluctuations in fossil fuel prices and minimize exposure to international markets.
“Not only that, but access to affordable energy through low-cost renewable energy can transform underserved communities and entire economies across the subcontinent.” Chown said.
Earlier in the day, the conference was informed that approximately 600 million people in sub-Saharan Africa lack access to electricity. The Panel agreed that recent advances in the cost competitiveness of renewable energy provide an opportunity to substantively address this inequity.
Panelists noted that while traditional hydrocarbon power generation tends to deliver electricity at around R2-3/KWh, wind power could achieve costs of around 40 cents, which represents a significant increase for consumers. I heard it means saving money.
“This is not about renewables versus fossil fuels or us versus the utilities,” said Zaid Vawda, principal associate and renewable energy leader at WSP. “We are all working together to solve Africa’s energy deficit, and renewable energy promises to do just that.
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