What will not having your own POWER mean to your family and your business?
Researchers at CSIR estimated that the cumulative load shedding cost to the South African economy roughly stood at between R 59 Billion and R 118 Billion in 2019. The impact load shedding has had in 2020 has been the worst on record and Eskom have said that this is set to continue for atleast the next 5 years.
Now imagine your supplier saying that the service we do for you will be terrible for atleast 5 more years - Would you continue doing business with such a supplier?
Stable power is integral to economic growth!
Earlier this year economist Professor Jannie Rossouw estimated that South Africa’s economy could have been 25% larger if it was not for load-shedding. A whopping 25% larger, how many potential jobs could that have created?
Load-shedding had a severe impact on the South African economy as it hampers growth and stops businesses from investing in the country.
It is challenging to accurately say how much rolling blackouts are costing the economy, but Rossouw said rough estimates are possible.
To quantify the economic loss related to load-shedding, Rossouw suggested looking at three aspects:
- Loss in economic activity.
- Reduction in economic growth.
- Loss of investment in the country.
“My sense is that load-shedding has cut off 1% per year over the last decade. Without load-shedding, the economy would have grown at 1% faster each year,” he said.
This means the South African economy would have been around 13% larger if the cumulative loss in economic growth because of load-shedding is considered.
This is, however, only part of the impact of load-shedding on the economy.
Rossouw said the loss in investment, although difficult to calculate, most likely equates to another 1% loss in economic growth per year.
The South African economy could therefore have been 25% bigger than what it is now if it was not for load-shedding.
Statistics South Africa estimated the country’s nominal GDP at R5.1 trillion for 2019. According to Rossouw’s calculations, the country lost R1.275 trillion because of load-shedding.
At EcoIP we believe that its the duty of every single South African that is in a position to, to help get the country out of this mess because those in power are surely not doing so. We are in a unique position to change the country that we love for the better and in doing so not only ensure the future of youths to come but ensure that lowering our carbon footprints collectively lead to help preserve our beautiful planet, because unless you have another one its all we got at present.
If your at all curious about making a stand and gaining complete Power Independence then please do reach out at [email protected] and a helpful sustainable solutions specialist will guide you through ways to gain your independence.