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Browsing *Wits Business School (ETDs) by SDG "SDG-7: Affordable and clean energy"
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Item Developing our financial markets to finance the energy transition(University of the Witwatersrand, Johannesburg, 2023) Madungandaba, Gcebile F.Developing a financial market is complex and tedious; therefore, the needs of various stakeholders must be considered, and market efficiency must be ensured to develop the renewable energy (RE) market effectively. This study offers valuable guidance on the effective allocation of capital resources in the renewable energy (RE) market to facilitate a smooth transition to renewable energy. To achieve this aim, panel data from 42 developing nations in Africa, Asia, and South America, spanning 1990-2019, are analysed. This study uses a panel fixed effects model to investigate the relationship between renewable energy production and credit, equity, and bond market development. The results of the empirical analysis suggest that all three dimensions of financial development, namely credit, equity, and bond, are positively associated with renewable energy production, albeit to varying degrees. This work also proposes a framework to promote renewable energy production in developing countries based on the empirical findings and existing literature. The framework highlights the leading renewable energy policy categories and specific policies most effectively promoting renewable energy production in emerging marketsItem Drivers of households’ willingness to generate their electricity post amendment of Electricity Regulation Act in South Africa(University of the Witswatersrand, Johannesburg, 2022) Hlungwani, Hlamalani CordleyPurpose: Prior to amendment of Electricity Regulation Act in South Africa, which increased the threshold for embedded generation without licencing 1 Megawatt (MW) to 100 MW, one of the factors that was considered to prevent consumers to generate their own electricity was the licencing requirements challenges. The research investigated other drivers that affect the households’ willingness to generate their own electricity in South Africa, given the recent amendment to the Electricity Regulation Act which has relaxed those licencing requirements. Research design, methodology and approach: The researcher sent questionnaires to various electricity households’ consumers, for which 120 respondents were used as a sample to the study, employing a quantitative methodology. Findings: The study has found that there is a positive relationship between electricity customers willingness to generate own electricity and their environmental concern. The more electricity customers are concerned about the environment the more they will be willing to generate their own electricity. The study also discovered the existence of positive relationship between electricity customers willingness to generate own electricity and the perception of self-effectiveness. The more electricity customers perceive that they are capable of generating their own electricity the more they will be willing to generate their own electricity. Value: The research can be used to assist in understanding the factors that might be preventing households from generating their own electricity despite the removal of the licencing barriers post amended of the Act. It can also be used to identify areas of focus when providing awareness to residential customers on the importance of electricity generationItem The impact of independent power producers entering the South African electricity supply industry(2020) Mokhethi, Keketso ElijahFor over a decade, South Africa has been experiencing electricity supply challenges which were mainly due to generation or distribution failures, as well as operational inefficiencies at Eskom; and this raised concerns about the power utility’s ability to guarantee security and quality of supply. In order to address these challenges, several attempts were made in the past to introduce competition in the electricity supply industry, without any material success. The latest attempt has been to accelerate the introduction of Independent Power Producers (IPPs) through the Renewable Energy Independent Power Producer Programme. This study investigated the impact of IPPs gaining access to the South African electricity supply industry which has been dominated by Eskom for a long time; and if the current market conditions are conducive for a competitive electricity market in the country. The study also identified some of the market barriers experienced by different IPPs. A qualitative methodology, premised on an interpretive paradigm, was employed for the collection of data. The study specifically focused on the South African context as a developing country. The sample included experienced individuals who are either currently working or have previously worked in the industry, thereby enhancing the richness of interviews conducted. The study found that the cost of electricity using renewable technologies such as wind and solar PV (generated by IPPs) has reduced significantly and is therefore cheaper than current prices paid by customers which is mainly based on power generated by Eskom using coal, which contributes significantly to the levels of pollution in the country. However, customers are not benefiting from the reduced costs since IPPs sell their power directly to Eskom which on-sells to customers using tariffs that continue to escalate at above-inflation rates. Furthermore, the introduction of IPPs did not result in improved operational efficiencies. The study also found that market entry barriers were low with a few minor challenges. Another finding of the study is that the current electricity market structure is not conducive for competition to prevail and therefore a restructure of the South African electricity market should be considered. The study was original and makes contributions to the theory of public choice and the theory of economic regulationItem Influence of Organisational Capability and Knowledge Sharing on Performance at Eskom Distribution(University of the Witswatersrand, Johannesburg, 2024) Mampuru, Thabo Mothobi; Kekwaletswe, Yar M.This research report is about how organisational capability and knowledge sharing influence performance in a South African power utility organisation, namely Eskom Distribution division. Organisational capability in this report means the ability and capacity to do maintenance on the existing infrastructure, network, and equipment to have a sustainable and consistent electricity distribution. Electrical system maintenance has gained attention from both researchers and practitioners over the past few years due to, among other things, constant load shedding that affects the social and economic aspects of South Africa. To this point improving electrical system reliability and reducing maintenance costs are top priorities of a power utility, notably Eskom Distribution (ED). Knowledge sharing is the transferring of the know-what and the know-how of doing maintenance, from one person to the next; that is, the research problem is that transferring of experience, skills, and information among employees is still a key issue at the Power Utility. The purpose of the study was, thus, to explore and describe organisational capabilities and knowledge-sharing enablers and challenges, using Resource- based theory (RBT) and Social-exchange theory (SET) as theoretical lenses. Improved performance is inferred to be when there is less downtime, less failure of equipment due to good maintenance and restoration time of electrical supply, achieved without compromising the safety of personnel and equipment. The study was conducted following an interpretive research philosophy and a case study was employed as a research strategy to get an in-depth understanding of ways that could be used to improve organisational performance. Semi- structured interviews were conducted with managers, engineers, technicians, and artisans as study participants. In the present study, one way to improve performance is the understanding of resources and behaviour, especially how maintenance strategies are formulated and how knowledge sharing could happen among employees to subsequently enhance and effect performance. The study found that managers play a key role in designing organisational capability and that they should affect knowledge sharing through various internal processes. The outcome and the contribution of iii the study is a conceptualised framework that may help improve performance through an enhanced knowledge sharing and organisational capability, in the context of the Power Utility, Eskom distribution divisionItem Perceived barriers to the adoption of low-carbon energy in the South African Energy-Intensive Industry(2021) Muditambi, LydiaCarbon dioxide is the predominant greenhouse gas associated with the combustion of fossil fuels. Energy-intensive industry is linked to high carbon emissions due to high energy consumption compared to other types of industry, hence the need for low-carbon energy options. With local and international pressure to reduce carbon emissions, this study seeks to explore the available options to facilitate low-carbon energy and to identify the barriers associated withtheir adoption within the South African energy-intensive industry. Most previous studies on this topicwere conducted for industrialized countries, and this study focus on understanding the barriers that affect South Africa and possibly other developing countries. Quantitative approach was employed using online survey and descriptive statistics to gather and analyse information on low-carbon energy options available and employed within the South African energy-intensive industry and to understand the barriers to their adoption. The study found that regulatory, economic, facility structural design, and culture and behavioural barriers exist in the South African energy-intensive industry. The barriers identified provides the basis for planning and resource allocation for the energy-intensive industryItem Perceptions on Knowledge Transfer Effectiveness in Multinational Corporations within the Renewable Energy Industry in South Africa(University of the Witwatersrand, Johannesburg, 2022) Phiri, Asante; Mazonde, NomusaThe purpose of this quantitative study was to examine how employees working in multinational companies in the South African renewable energy industry, specifically those working for companies participating in the Renewable Energy Independent Power Producer Programme (REIPPP), experience and perceive the knowledge transfer initiatives of their companies and the effectiveness thereof. The REIPPP has a strong prevalence of multinational companies and one of its goals is the transfer of skills. With the application of knowledge identified as a precursor to the development of skill and multinational companies identified as vehicles for knowledge transfer, the study investigates the effectiveness of knowledge transfer within the REIPPP. A survey questionnaire was used to assess the degree to which the elements identified by seminal models and as critical success factors for knowledge transfer were applied by multinational companies in the renewable energy industry in South Africa. Exploratory statistics techniques and regression analysis was used to identify relationships and verify expected relationships between critical factors and the benefits of as well as satisfaction with knowledge transfer. The findings indicate that multinational companies within the REIPPP apply the knowledge transfer practices aligned with the critical success factor identified in knowledge transfer literature. Respondents predominantly had positive views of all aspects of the strategies, processes and systems used in the transfer of knowledge. Most respondents were satisfied with and identified the benefits of their company’s knowledge transfer initiatives, 65.98% and 69.01% respectively. Critical success factors that negatively affect knowledge transfer were found to be largely overcome within the industry resulting in negligible effect on the satisfaction with and benefits of transfer. Potential areas for improvement were identified based on analysis of respondent responses. Improvement areas include the periodic assessment of knowledge transfer program effectiveness by multinational companies, as well as the encouragement and monitoring of transfer effectiveness by government programme sponsorItem Sources of brand equity in a government programme: a case of the renewable energy independent power producers programme (REIPPP) in South Africa(2020) Mojanaga, Nonesi DesireeAssessing the sources of brand equity in the government sector is an area of limited research. This research report applies the Brand Equity theoretical model developed by Aaker (1991a; 1991b) to determine the sources of brand equity in a public sector energy programme in South Africa. The Renewable Energy Independent Power Producers Programme (REIPPP) is a private-public partnership in the renewable energy sector, introduced in 2010. A brand is considered to be one of the most important intangible assets of any organisation, and therefore the determination of the sources of its value, or brand equity, is of great importance. A quantitative research approach was adopted to guide the study, using a structured survey questionnaire. Data was collected through an online survey from a sample of thirty-two respondents, most of whom have been extensively involved in the REIPPP and analysed using descriptive and inferential statistical methods. The results of the research study highlighted the most important factors affecting brand equity in the REIPPP, which are brand awareness and perceived benefit. The findings show that Aaker’s (1991a; 1991b) Brand Equity model has relevance and applicability in the public sector. The contribution of this report is to enhance academic understanding of brand equity in the public sector and to explore the implications for management practice whilst providing marketers in the public sector with the tools for public sector marketingItem Testing the adaptive efficiency of bitcoin(2022) Maredi, MaromoThis research aims to investigate an alternative view of market dynamics referred to as the Adaptive Markets Hypothesis which posits that an asset’s efficiency will change over time. As such, this research will test whether Bitcoin is time-varyingly efficient. This will be accomplished in three stages. Firstly, whether Bitcoin returns follow a random walk/martingale will be investigated. If they do, that means that they cannot be predicted, thereby providing evidence of the weak-form market efficiency. If they do not follow a random walk, however, the second phase of the investigation turns to whether they can be modelled. The first attempt models the current Bitcoin return as a function of its own lagged values, which is predicated the idea of all relevant information being reflected in historical returns. The inadequacy of this model in its description of the returns generating process, provides evidence that there is private information that historical returns do not reflect which impacts returns. To account for this, the returns generating process is thus modelled using both historical returns and exogenous lagged variables without need to specify the model’s functional form. If the model performs better in some periods than in others, it can be inferred thus that Bitcoin is timevaryingly efficient.Item The introduction of renewable energy into the South African energy mix without affecting the socio-economic environment of the country(University of the Witwatersrand, Johannesburg, 2022-12) Baepi, Marvin; Mondi, L.There is no doubt that climate change is a reality, even though there is a huge disagreement on what course it. In response to this reality, in 2011 South Africa introduced the National Climate Change Response Policy White Paper (NCCR. 2011; Lukey, 2020). The policy was a mitigation response to address Greenhouse gases (GHG) emissions. It had short, medium and long term goals to stop the increasing GHG emission by latest 2025 and stabilisestabilize it by 2035 and start reducing from 2035 – 2050 respectively. These policies among other things, aim to eradicate or reduce dependency on electricity generation using coal. They also aim to encourage businesses to reduce CO2 emissions. However, instead of businesses reducing CO2 emissions , they pass through the penalties that the government impose on them for emitting CO2 during their production processes to their customers. South African has high unemployment rate and low skilled labour contingent, especially in the coal mining industry. The government cannot afford a fast pace eradication of coal fired power generation as this will deepen unemployment in the coal industry, especially in the Witbank area. The deployment of renewable energy requires highly skilled individuals for construction, operation and maintenance. The introduction of renewable energy at its current form, where Eskom is a single buyer is very expensive for South Africans at large. This is because Eskom applies a pass through method for buying electricity that is more expensive than their current fleet of electricity generation plants. The industry needs to be deregulated in order to achieve a fair and workable plan for South AfricansItem The Political Economy of the Renewable Electrical Energy Sector Within the Context of South Africa’s Energy Transition(2023) Waxa, Zizipho Khayakazi; Ngubevana, LwaziThis research project explored the political economy of the renewable electrical energy sector within the context of South Africa’s energy transition, focusing on the Integrated Resource Plan (IRP) and the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). The objective of this research project was to provide policy recommendations that would address the challenges within the renewable electrical energy sector and promote a just electrical energy transition. Key findings in this research indicate that the political economy of the renewable electrical energy sector is shaped by the socio political legacies of the Apartheid regime, namely, the Minerals-Energy Complex (MEC). With the MEC being underpinned by a set of relationships that prioritise coal-fired electricity- the renewable electrical energy sector is seemingly being suppressed to maintain the status quo thus limiting a just electrical energy transition. Moreover, the findings demonstrate the influential role of the MEC in the stalling of a just electrical energy transition. Additionally, the qualitative in-depth interviews revealed rich insights that shed light on the underlying mechanisms and contextual factors shaping the political economy of South Africa’s renewable electrical energy sector. The implications of these findings are twofold. Firstly, they contribute to the theoretical understanding of the political economy of South Africa’s renewable electrical energy sector by confirming and expanding upon existing knowledge in the field. Secondly, they have practical implications for policymakers seeking to improve policy effectiveness and usher in a just electrical energy transition by addressing the identified factors.