The Global South has the potential to experience the cheapest route to growth in history with lower green energy prices. South Africa, a key player in the region, is leading the way with its transition from coal to renewable energy. The country has implemented measures to reduce load shedding and shift towards cleaner power sources. This shift is not only benefiting the environment but also creating new job opportunities and driving economic growth. Hydrogen power is also gaining traction in South Africa, with plans to build hydrogen terminals and export clean energy. The country’s renewable energy boom is expected to be a game-changer for the region, driving economic growth and reducing carbon emissions. The shift to clean energy is encouraging investment and creating new industries, such as solar and wind power. As a result, South Africa and the Global South are poised for significant economic growth and development, while reducing their reliance on fossil fuels and mitigating climate change.
Source: https://impactalpha.com/green-energy-prices-global-south-growth/