We all know the importance of South Africa’s ability to supply its citizens with reliable power. Recent load shedding due to Eskom’s inability to supply the country with sufficientpower has negative consequences for theeconomy.
Our growth rate target of 2.7%, which is modest compared to other emerging markets and Sub Saharan economies, is subject to reliable power supply being readily available. With the load shedding process the main industrial power users were asked to reduce their power consumption by 10%. To put this in perspective; the coal, platinum and gold mines produced products to the value of R1 billion per day in 2013. These industries lose vast amounts of money by adhering to load shedding requests. This creates a loss of confidence in South Africa as an investment destination and that slows growth even further.
South Africa has mainly been relying on coal as a source for energy generation.However, there are new options available to our country. With developments in renewable energy and fracking, South Africa now has more options available to supplement its current power supply.
In addition to supplementing South Africa’s power supply the development of these two sources of power generation can make a difference to South Africa’s unemployment problem. The youth in particular are the ones feeling the wrath of unemployment. It is worthwhile exploring the pros and consof these sources, as the energy mix that South Africa chooses today will be with us for the foreseeable future.
Renewable energy is a clean source of energy which can be regenerated indefinitely. Fracking on the other hand, is another form of fossil fuel exploitation which is finite and very controversial. South Africa is well placed to benefit from both these forms of power generation. Out of all the forms of renewable energy, solar power is the best and most efficient alternative for South Africa. Sub Saharan Africa has on average about 2500 hours of sunlight per year. The US Energy Information Administrationestimates that South Africa has the 8th largest shale gas reserves in the world.
In terms of its affects on the environment solar power has zero emissions as it relies solely on sunrays to generate energy. Fracking has been very controversial as the process of extracting shale gas from under the ground potentially can have an adverse effect on the environment. Environmentalist have expressed concerns due to the fact that fracking can possibly contaminate ground water, contributes to air pollution, generates chemical waste, has a high level of water usage and generally spoils the landscape as many wells and pipes need to be constructed to make fracking viable.
As mentioned earlier the development of South Africa’s energy policy can have a positive influence economically. It can create valuable jobs for our youth.
The US is a big exponent of fracking. Fracking played a big role in rejuvenating the struggling American economy recently. Not only did it decrease America’s need for foreign gas, but it is also estimated that by 2020 America will become a net exporter of oil and gas. So, fracking does not only produce gas but can also produce oil which is a vital commodity to have. If everything stacks up for fracking in South Africa, it can have the same impact. This creates the possibility for exports and many jobs through fracking. A study by Econometrix reveals that fracking can create up to 700 000 jobs in twenty years.
Renewable energy also has good economic prospects. It will also create jobs that will stimulate the economy. Greenpeace estimates that renewable energy can create +/- 103 000 jobs by 2030. This, in conjunction with its sustainable nature, is a big selling point.
The South African youth has a big choice to make on which source it will champion going forward. If it’s proven that shale gas is viable in South Africa it might slow down the roll out of renewable energy projects. It will be the youth that has to live with our energy policy in future. We will be the ones gaining from more jobs, better economy or the ones perpetuating harmful impacts on our environment. With the UN’s recent report on climate change urging governments across the world to refrain from using fossil fuels, it is clear that we need to start taking our environment seriously. The choices we make today have a big influence on our stability and world peace in future.
It is our choice to make. Remember: Our Vote, Our voice.
Article by Keenan Carelse, South African citizen, based in London United Kingdom
The opinions expressed in this article are those of the author and not necessarily those of the George Herald.
