The South African battery market and value chain, the country is on the cusp of a change in terms of demand for batteries.
The battery market and value chain could lead to the generation of thousands of jobs in the country and a market revenue estimate of $1 billion (R18 billion) by 2030.
South Africa’s recent policy push towards renewable energy sources, alongside the failings of the national power utility Eskom has made an ideal climate for the battery storage market to thrive.
Even on a smaller scale, it is no longer uncommon for households to have some sort of small-scale stationary battery storage system such as a UPS battery or Inverter.
Initiatives such as the National Development Plan 2030 focus on reducing CO2 emissions from the electricity sector by improving electricity supply in rural areas across the nation, among other things, said the group.
The international community has eyed South Africa’s shift away from coal and towards renewables. South Africa’s geography is very well suited for large-scale solar and wind farms.
To balance a large quantity of renewable power, however, especially solar and wind, they must be supported with energy storage systems such as pumped hydro or battery energy storage systems, said the World Bank Group.