We have been wondering for a while now what exactly is the perceived age of the renewable energy market here in South Africa.
When we refer to age, we mean how long has the green economy been developing to a point of majority adoption or are we still in progress towards it? We decided to conduct some research via FB and our friends at Powerforum to help answer this question.
Powerforum – https://powerforum.co.za
https://www.facebook.com/groups/154713861795197
Why is it important? In an emerging economy that is currently fractured with so many suppliers, installers, and a huge variety of products on offer its important to understand where we are in the renewable marketplace and where we may evolve too.
We posed the question: If the south African renewable marketplace were a person, how old would they be?
It may seem strange to ask in this manner but it proved to be an effective question. The results were interesting, so we crunched the numbers and this is what we got.
42% of participants voted on 7 years old
30% of participants voted between 7 – 10 years old
23% of participants voted on 3 years old
Given the general consensus, we believe the market to be an average of 7 years old. We also realize that the renewable energy market as a whole has been around quite a long time in fact as far back as the mid 19th century.
This research poll gives us a unique viewpoint. We know that in SA the genesis or uptake of renewables is a good 25 – 30 years already. However, this does not mean the general public at large knew or had knowledge of this including the available level of adoption at the time.
Ideally what this research points to is the following:
The general public is young to the knowledge of renewable technology
Technology is developing faster than ever before
Renewable technology adoption is increasing
The consumer knowledge gap is large and needs to be filled
When we refer to age, we mean how long has the green economy been developing to a point of majority adoption or are we still in progress towards it? We decided to conduct some research via FB and our friends at Powerforum to help answer this question.
Powerforum – https://powerforum.co.za
https://www.facebook.com/groups/154713861795197
Why is it important? In an emerging economy that is currently fractured with so many suppliers, installers, and a huge variety of products on offer its important to understand where we are in the renewable marketplace and where we may evolve too.
We posed the question: If the south African renewable marketplace were a person, how old would they be?
It may seem strange to ask in this manner but it proved to be an effective question. The results were interesting, so we crunched the numbers and this is what we got.
42% of participants voted on 7 years old
30% of participants voted between 7 – 10 years old
23% of participants voted on 3 years old
Given the general consensus, we believe the market to be an average of 7 years old. We also realize that the renewable energy market as a whole has been around quite a long time in fact as far back as the mid 19th century.
This research poll gives us a unique viewpoint. We know that in SA the genesis or uptake of renewables is a good 25 – 30 years already. However, this does not mean the general public at large knew or had knowledge of this including the available level of adoption at the time.
Ideally what this research points to is the following:
The general public is young to the knowledge of renewable technology
Technology is developing faster than ever before
Renewable technology adoption is increasing
The consumer knowledge gap is large and needs to be filled
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The general public is young to the knowledge of renewable technology
The level of knowledge about renewable energy differs from country to country. We know that places like Australia, USA and Europe. This is in part to policy and availability to information. Additionally, we also know that these countries have been faster in the adoption cycle of renewable technologies for their cities.
Technology is developing faster than ever before
Renewable technology is developing at a faster rate than ever before. This is due to the global increased uptake of renewables and the increase in the need for independent energy and self-sufficiency. What is current today will in most accounts not be current in the next 12 months to 18 months.
While green tech development is great, it keeps increasing the knowledge gap of both consumers and installers. This also allows a bigger space for more product entrants to enter the market which in most cases are rebranded products which is prevalent in the inverter and battery space.
Renewable technology adoption is increasing
The adoption rate of renewable technology is believed to be growing at a rate of 13% per year globally. Covid-19 did put a slow down on this growth curve however experts believe it will keep progressing year on year without fail.
As technology progresses and is taken up faster in developed economies like the USA, other developing economies like South Africa lag behind slightly. This is due to many factors such as government policy formulation, consumer spending, and economic growth rates.
The consumer knowledge gap is large and needs to be filled
Consumers want to learn and be knowledgeable about many things especially before they spend money on something. This is especially true for solar energy due to its large expense and relative explosion in SA as a feasible option to mitigate Eskom load shedding and cable theft.
The knowledge gap is large in part to a highly fragmented market with so many products on offer as well as little information to help guide consumers on how energy systems work. This is why Inside Energy was created. Product knowledge, system knowledge and overall understanding on how various renewable energy options work is lacking.
Read more......
The level of knowledge about renewable energy differs from country to country. We know that places like Australia, USA and Europe. This is in part to policy and availability to information. Additionally, we also know that these countries have been faster in the adoption cycle of renewable technologies for their cities.
Technology is developing faster than ever before
Renewable technology is developing at a faster rate than ever before. This is due to the global increased uptake of renewables and the increase in the need for independent energy and self-sufficiency. What is current today will in most accounts not be current in the next 12 months to 18 months.
While green tech development is great, it keeps increasing the knowledge gap of both consumers and installers. This also allows a bigger space for more product entrants to enter the market which in most cases are rebranded products which is prevalent in the inverter and battery space.
Renewable technology adoption is increasing
The adoption rate of renewable technology is believed to be growing at a rate of 13% per year globally. Covid-19 did put a slow down on this growth curve however experts believe it will keep progressing year on year without fail.
As technology progresses and is taken up faster in developed economies like the USA, other developing economies like South Africa lag behind slightly. This is due to many factors such as government policy formulation, consumer spending, and economic growth rates.
The consumer knowledge gap is large and needs to be filled
Consumers want to learn and be knowledgeable about many things especially before they spend money on something. This is especially true for solar energy due to its large expense and relative explosion in SA as a feasible option to mitigate Eskom load shedding and cable theft.
The knowledge gap is large in part to a highly fragmented market with so many products on offer as well as little information to help guide consumers on how energy systems work. This is why Inside Energy was created. Product knowledge, system knowledge and overall understanding on how various renewable energy options work is lacking.
Read more......
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