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South Africa is expected to become the tenth largest photovoltaic market in the world

2024-03-20

According to local media in South Africa on March 5th, Bloomberg New Energy Finance (BNEF) released a report stating that South Africa is expected to become the world's tenth largest photovoltaic market by 2024, and the dominant position of solar photovoltaics in the country will continue to grow. Eskom estimates that the total installed capacity of rooftop solar energy in South Africa will be 2.6 gigawatts in 2023. The installation of rooftop solar energy in South Africa will further increase in 2024, especially in May, June, and July, when power load shedding will become more frequent and severe. The South African Photovoltaic Industry Association (SAPVIA) pointed out that since the beginning of 2023, a total of 4.3 gigawatts of solar energy projects have been registered with the South African National Energy Regulatory Authority. BNEF stated that it is expected that South Africa's installed capacity will range from 4 gigawatts to 4.5 gigawatts in 2024, and the cumulative installed capacity will reach approximately 36 gigawatts by 2030.

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