An investigation of the barriers and drivers to CDM renewable energy investment at the Metro, Kouga and Jeffreys Bay windfarms

Abstract

This research is presented in three sections. Section 1 presents the research report in an academic journal article format. Section 2 provides a comprehensive literature review and Section 3 describes the research methodology and methods employed during the research. Climate change is the most urgent challenge facing planet earth today. The Intergovernmental Panel on Climate Change (IPCC) fifth assessment report (AR5) clearly states, “Human influence on the climate system is clear, and recent anthropogenic emissions of greenhouse gases are the highest in history. Recent climate changes have had widespread impacts on human and natural systems” (IPCC, 2014:2). The Renewable Energy Policy Network for the 21st Century (REN21) published the 10th annual edition of the Renewables 2015 Global Status Report, which illustrates the importance of a zero emissions energy sector (REN21, 2015). Despite the world’s average annual 1,5% increase in energy consumption in recent years, and average 3% growth in Gross Domestic Product, carbon dioxide (CO2) emissions in 2014 were unchanged from 2013 levels (REN21, 2015). The report findings state, “For the first time in four decades, the world economy grew without a parallel rise in CO2 emissions” (REN21, 2015:17). Renewable energy and improved energy efficiency is key to limiting global warming and avoiding dangerous impacts from climate change (REN21, 2015). With a view to the successful outcome of the 21st Conference of the Parties (COP21) in December 2015, renewable energy could contribute significantly in mitigating climate change and supporting the Sustainable Development Goals (SDGs), specifically SDG 7, on Sustainable Energy for All (SAIREC, 2015). South Africa has been rated the 15th most attractive destination for investment in the renewable energy sector and could become a renewable energy leader in the African continent, according to the Renewable Energy Country Attractiveness Index of EY (Ernest and Young) (EY, 2015). And more..