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Energy storage has potential to spur economic growth

The global energy generation landscape is evolving rapidly from a centralised generation to a distributed energy generation model. While this change has created challenges, it has also created opportunities, says IDC’s Divisional Executive for Agro, Infrastructure and New Industries, Lizeka Matshekga.

Speaking at an industry forum convened today at the IDC to discuss the economic potential of this industry, Matshekga disclosed that energy storage which is fast gaining traction across the globe, has potential to create new jobs. “We are talking of potentially billions of dollars in investments, and gigawatt hours of installed storage capacity over the next 5 to 10 years for stationary applications alone. If electric vehicles are also included, the numbers become even larger,” said Matshekga.

As such, the IDC’s New Industries Strategic Business Unit (SBU) has identified energy storage as a potential new industry which could be established in South Africa. Click here to download research reports conducted by the IDC on the potential of energy storage.

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