Battery storage market ripe for a boom in SA, says World Bank

📆 2/14/2023 12:43 PM
📰 BDliveSA

⏱ Reading Time:
16 sec. here
2 min. at publisher
📊 Quality Score:
News: 10%
Publisher: 63%

Business News News

World Bank expects a rapid rise in SA’s storage demand with revenue of up to $2bn a year in 10 years

The development of a battery market and value chain in SA could create a lucrative industry capable of generating up to $2bn in revenue a year by 2032 and tens of thousands of jobs.

This is according to a new report by the World Bank which says that over the next five years SA is expected to show rapid growth in energy storage demand. The rise in demand will come from the transformation of the energy system to include more renewables and developing demand in the electric vehicle sector...

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Standard Bank cautiously optimistic on growth as SA works around load shedding | BusinessStandard Bank predicts a 1.3% economic growth for South Africa in 2023, anticipating a reduced impact of load shedding on the economy as more businesses install solar capacity. | News24_Business _Business That's still a shocking performance for a developing country. In line with a 30 percent pass rate.
Source: News24 - 🏆 4. / 80 Read more »