Green investments can fuel economic growth
AS the Electricity Control Board approved an increase in electricity tariffs, it becomes crucial for Namibian households to embrace renewable energy and strive for self-sufficiency in terms of power needs.
The ECB has approved an 8.97% increase in electricity tariffs for this year. This means the total bulk tariff increases from the current N$1.82 to N$1.98 per kilowatt hour (kWh). NamPower, initially applied for a 16.87% increase and has warned local authority defaulters that their lights will be turned off by 5 June if their debts are not settled.
To offset this perpetual and inevitably unaffordable increase in living costs households and businesses will have to up their investment in renewable electricity. This of course comes with a multitude of advantages, including economic savings, energy independence, environmental sustainability, job creation, and technological innovation. To support this transition, the government can expand and actively promote its solar revolving fund, providing assistance to those who lack the financial means and subsidising low-income homeowners.
By investing in renewable electricity, Namibian households can achieve both energy independence and economic savings. Relying on renewable energy sources reduces dependence on expensive imported fossil fuels, subject to never-ending price volatility and geopolitical risks. In contrast the (relatively) free power of the sun, wind, and other renewable sources can be harnessed to generate electricity, ensuring a reliable power supply, even in remote areas. This self-sufficiency mitigates the impact of energy price fluctuations and strengthens national energy security. Furthermore, the declining costs of solar panels in recent years make renewable electricity a cost-effective option for households, amplified by government subsidies and tax breaks.
Namibia’s commitment to sustainable development is reinforced by the shift from fossil fuels to renewable energy sources. Renewable electricity generation produces minimal or no carbon emissions, contributing to the reduction of greenhouse gas emissions and combating climate change. By embracing renewable energy, Namibian households actively participate in global efforts to preserve the environment for future generations. This commitment aligns with the country’s unique position to capitalise on our abundant renewable energy resources, such as solar power, and reduce our carbon footprint.
Renewable electricity empowers households by providing energy reliability and improving their quality of life. In areas with an unreliable power grid or frequent power outages, renewable energy sources like solar panels offer a dependable alternative. Solar power can fuel lights, fans, and appliances, ensuring uninterrupted access to essential services. Additionally, solar electricity can be utilised to power water pumps, enhancing access to clean water. Such benefits are particularly significant for households in rural areas, contributing to their wellbeing and resilience.
Investment in renewable electricity infrastructure necessitates skilled workers for installation, operation, and maintenance, leading to the creation of green jobs. This boost in employment rates improves the overall economic well-being of Namibian communities. Furthermore, by encouraging local manufacturing and supply chains, renewable energy investments stimulate economic growth, attract further investments, and foster innovation within the country. The adoption of renewable energy systems fuels demand for advancements in energy storage, grid integration, and efficiency, leading to technological breakthroughs that benefit multiple industries.
Investing in renewable electricity not only empowers Namibian households but also fuels economic growth and development. By embracing renewable energy sources, households can achieve energy independence, save costs, protect the environment, and enhance their quality of life. Simultaneously, renewable energy investments drive job creation, local economic development, and technological innovation, positioning Namibia as a regional leader in the renewable energy sector.