With energy storage considered to be the “new wave” in the energy sector and increasingly becoming a reality, South Africa needs to prepare itself if it wishes to take advantage of the energy storage growth opportunities within the energy storage stationary value chain and the mobility value chain, says State-owned development finance institutionIndustrial Development Corporation (IDC) senior project development manager Bertie Strydom.
Presenting an overview of an energy storage techno-economic study, in Johannesburg, on Thursday, he stressed that South Africa should not try to “reinvent the wheel”, but “should understand its competitive advantages and the sustainable opportunities within the respective value chains, start exploiting opportunities and secure its position in collaboration with key international partnerships”.
IDC divisional executive for agroprocessing, infrastructureand new industries Lizeka Matshekga, however, emphasised that South Africa could not afford to only become involved when local demand really takes off on the back of lower pricing.
“Energy storage is already on a similar cost path as photovoltaic and wind and some research indicates that the trajectory might be even quicker. If South Africa wants to be part of this lucrative industry, we need to act now,” she said on Thursday.
Energy storage could unlock opportunities for South Africa in mining and beneficiation, research and development, commercial exploitation, local industry development, developmental impact, as well as opportunities for South Africa in global market player aspirations, Strydom highlighted.
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