THE ECONOMIC IMPACT OF RENEWABLE AND NON-RENEWABLE ENERGY TECHNOLOGIES ON SMALL BUSINESSES: A CASE STUDY OF SMALL BUSINESSES NEAR THE WALLACEDENE TAXI RANK

Abstract

The South African National Development Plan contemplates that by 2030 the country will have an energy sector that promotes economic growth, development, social equity and environmental sustainability. This study explores the economic impact of renewable energy on the operations of small businesses located near the Wallacedene Taxi Rank. The taxi rank was built by the City of Cape Town as the first ‘green’ transport facility in South Africa. A self-administered questionnaire was used to survey a purposive sample of twenty (20) small business operators. Data analysis used descriptive statistics and content analysis. The key findings showed positive financial and operational benefits for small business operators using LPG gas stoves and solar-powered LED lights. There was evidence of positive correlation between the use of renewable energy and economic development at the micro- and macroeconomic levels. The study recommends the need for the government to proactively support the uptake, manufacturing and distribution of affordable renewable energy equipment. There is need to provide training and to upskill the labour force to gain employment in the renewable technology and related sectors.