banner

Screen Shot 2015-02-19 at 9.36.02 AM
761 Views

South Africa Saved $69 Million From Solar, Wind Energy In 2014


The Renewable Energy Independent Power Producers Programme has started delivering financial benefits to the South African power sector and the economy on the whole, a recent study has shown.

A study by the Council for Scientific and Industrial Research (CSIR) states that the 1.6 GW of wind and solar power capacity commissioned by the end of 2014 helped save more than $450 million. With the payments to these renewable energy projects through feed-in tariffs at around $390 million the net ‘profit’ to the economy from these project is over $60 million.

Electricity generated from 0.6 GW wind energy projects and 1 GW solar power projects replaced 1.07 TWh electricity from diesel-fired power plants and 1.12 TWh electricity from coal-fired power plants. Renewable energy projects have thus offset more than 2 million tonnes of CO2e emissions in 2014.

Under the Renewable Energy Independent Power Producers Programme (REIPPP) South Africa plans to source 10 TWh electricity from renewable energy projects based on a wide variety of technologies. Generation of this quantum of electricity would be generated from 3,725 MW capacity. The government plans to auction this capacity through competitive bidding.

1.85 GW of onshore wind energy capacity, and 1.45 GW of solar photovoltaic (PV) power capacity will be auctioned by the end of the programme. Other renewable energy technologies include concentrated solar thermal, biomass, biogas, small hydro, and landfill gas.

The net financial saving of over $60 million is an excellent advertisement for the South African renewable energy sector which may see a further boost once the government introduces the carbon tax policy. Companies that would be required to reduce greenhouse gas emissions under the carbon tax policy would be able to fulfil their obligations by generating offsets from renewable energy projects which, as shown by the CSIR, would bring in significant financial savings.

Source: Cleantechnica


sweek_banner_web

Book your seat here.


 

Follow Alive2Green on Social Media

TwitterFacebookLinkedInGoogle +

 

Recently Published

Property-Buyer-Show-Gauteng-Banner-800x304
»

How to choose the best real estate agent when buying your first home

Buying your first home is a daunting process in itself, which is why ...

Screen Shot 2017-10-19 at 10.14.22 AM
»

Global water insecurity calls for water infrastructure maintenance

The growing funding gap to keep up with the rehabilitation, operation ...

Screen Shot 2017-10-19 at 10.02.53 AM
»

Regreening the planet could cut as much carbon as halting oil use – report

Natural solutions such as tree planting, protecting peatlands and ...

a2ginfrast
»

Johannesburg’s Executive Mayor Herman Mashaba to address African Real Estate & Infrastructure Summit in Sandton on 25 October

“Rejuvenation of the inner city a key priority for the new ...

ITC
»

Laminated timber beams to comply with regulations

The Institute for Timber Construction South Africa (ITC-SA), South ...

worms
»

Organic waste – What to do?

Have you ever felt frustrated with the food waste that you throw ...

greenbuilding
»

Meet the Green Building Convention 2017 keynote speakers

This year, we have included speed networking stations at the GBCSA ...

school
»

Streetlights Schools: Wellness In Education

In keeping with sustainable school design and child mental health ...

gproperties25
»

Growthpoint powers innovation with its NWU Solar Car team sponsorship

Pushing the boundaries of what is possible for alternative energy and ...