Ghana Renewable Energy Policy Handbook, 2022 Update
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Ghana Renewable Energy Market
Ghana aims to increase the capacity of renewables in the total generation mix by 2030. As a party to the Paris Agreement, the country submitted its updated Nationally Determined Contribution (NDC) to the UN in November 2021. Under the new NDC, the country aims to reduce absolute Greenhouse Gas (GHG) emissions by 64 MtCO2e by 2030.
The Ghana renewable energy policy handbook offers comprehensive information on major policies governing the renewable energy market in the country. The report also discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of the overall growth potential of the renewable energy industry. Moreover, the report provides major technology-specific policies and incentives provided in the country.
What are the market dynamics in the Ghana renewable energy market?
Ghana launched its renewable power program in 2011 with the passing of the Renewable Energy Act, which provides for grid access for renewable power producers in Ghana and Feed-in Tariffs (FiTs). The main target growth areas are wind, solar, and biomass.
The Ministry of Energy is responsible for formulating policies related to the power and petroleum sector. The important laws in Ghana relating to electricity originate from the Energy Commission Act, 1997 (Act 541), and the Public Utilities and Regulatory Commission Act, 1997 (Act 538). These acts provide the respective agencies with the authority to perform their tasks. The Energy Commission (EC) has a more technical role and is responsible for granting licenses, while the Public Utilities and Regulatory Commission (PURC) performs the role of an economic regulator, with responsibilities such as setting and monitoring tariffs. Reforms intended to restructure the power sector in Ghana were first introduced in the late 1990s. These reforms resulted in the setting up of the two important regulating agencies in the country, the EC and the PURC.
What are the major policies and incentives in the Ghana renewable energy market?
The major policies and incentives in the renewable energy industry in Ghana are Renewable Energy Act, National Energy Policy, Renewable Energy Master Plan (REMP), National Energy Strategy, Energy Sector Strategy and Development Plan (ESSDP), Sustainable Energy for All (SEforAll), and Ghana Energy Development and Access Project (GEDAP).
Renewable Energy Act
The Renewable Energy Act 2011 aimed to provide for the development, management, utilization, sustainability, and adequate supply of renewable energy generation for heat and power. The Act established the legal basis for the creation of support programs for the deployment of renewable energy sources such as FiT and net metering. In November 2020, Parliament passed the Renewable Energy (Amendment) Bill, 2020. The government amended the Renewable Energy Act as a reduction in the price of renewable systems and the resultant cost of electricity from renewable energy sources has rendered the FiT regime a burden on consumers who must pay for expensive solar PV power based on feed-in-tariff, while the solar PV could be secured at a cheaper cost through competitive bidding.
National Energy Policy
The National Energy Policy 2010 encompasses plans to manage the challenge of ever-increasing energy needs for the national development plan. The policy emphasizes renewable energy deployment, waste-to-energy management, and energy efficiency. These address the need for improvised policy support, and private sector involvement to foster efficient and sustainable energy generation. According to the National Energy Policy, the government shall mainly focus on the effective exploitation of vast small hydro potential in the country.
Renewable Energy Master Plan
In 2019, the government launched the $5.6bn Renewable Energy Master Plan (REMP) to be implemented for a period of 12 years from 2019 to 2030. The plan has been made for the development and promotion of the country’s rich renewable energy resources to propel economic growth to improve social life and reduce climate change effects.
National Energy Strategy
Planning of making the National Energy Strategy commenced in 2001 when the government of Denmark agreed with the government of Ghana to provide technical and funding support for improving its energy sector infrastructure under the Energy Sector Programme Support Scheme. The key areas of these support schemes are the Renewable Energy Development and Management Programme (REDP), Traditional Energy Development and Management Programme, and Strategic National Energy Plan (SNEP).
Energy Sector Strategy and Development Plan
The Energy Sector Strategy and Development Plan, formulated by the government in 2010, emphasizes increasing the renewable energy supply in the national energy mix to 10% by 2020. Some of its key strategies include promoting the establishment of dedicated woodlots for wood fuel production, promoting the production and use of improved cookstoves, supporting the development of biofuels as a transportation fuel as well as job creation initiative by creating appropriate financial and tax incentives, etc.
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Market report scope
Major policies & incentives | Renewable Energy Act, National Energy Policy, Renewable Energy Master Plan (REMP), National Energy Strategy, Energy Sector Strategy, and Development Plan (ESSDP), Sustainable Energy for All (SEforAll), and Ghana Energy Development and Access Project (GEDAP) |
Scope
- The report covers policy measures and incentives used by Ghana to promote renewable energy.
- The report details promotional measures in Ghana both for the overall renewable energy industry and for specific renewable energy technologies that have potential in the country.
Reasons to Buy
The report will enhance your decision-making capability in a more rapid and time-sensitive manner. It will allow you to:
- Develop business strategies with the help of specific insights about policy decisions being taken for different renewable energy sources.
- Identify opportunities and challenges in exploiting various renewable technologies.
- Compare the level of support provided to different renewable energy technologies in the country.
- Be ahead of the competition by keeping yourself abreast of all the latest policy changes.
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Frequently asked questions
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What are the major policies and incentives in the Ghana renewable energy market?
The major policies and incentives in the renewable energy market in Ghana are Renewable Energy Act, National Energy Policy, Renewable Energy Master Plan (REMP), National Energy Strategy, Energy Sector Strategy, and Development Plan (ESSDP), Sustainable Energy for All (SEforAll), and Ghana Energy Development and Access Project (GEDAP).
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