In recent years, Ghana has been facing significant challenges in meeting its growing energy demands while grappling with high electricity costs and overreliance on fossil fuels.
Ghana stands at the cusp of a significant transformation in its energy landscape, thanks to the endorsement of the New Patriotic Party’s (NPP) green energy policy by Dr. Williams Kwasi Peprah, an associate professor of finance at Andrews University in Michigan, USA. This bold initiative, if implemented, could potentially revolutionize Ghana’s energy mix and significantly impact the country’s economic future.
“Green energy, if it’s really implemented, it’s going to help Ghana a lot and it is something that’s going to help reduce the energy mix.”
Dr. Williams Kwasi Peprah, an associate professor of finance at Andrews University in Michigan
Dr. Peprah’s endorsement of the NPP’s green energy policy reflects a growing consensus among experts that renewable energy holds the key to a more sustainable and affordable energy future for Ghana. He highlighted the potential of this policy to significantly alter the country’s energy mix, which has traditionally relied heavily on hydro and thermal power.
By diversifying the energy mix and incorporating more renewable sources, Dr. Peprah suggested that Ghana could see a reduction in energy costs, which would, in turn, alleviate the financial burden on households and businesses alike.
The NPP’s green energy policy is an approach aimed at reducing Ghana’s dependence on fossil fuels and hydroelectric power, which have dominated the country’s energy landscape for decades. The party’s manifesto highlighted the integration of solar power as a crucial component of its energy strategy, reflecting a commitment to both environmental sustainability and economic pragmatism.
Ghana has the opportunity to significantly reduce its reliance on costly imported fossil fuels for electricity generation, by harnessing its abundant solar resources.
Solar power, in particular, has become increasingly affordable and efficient, making it a viable alternative to traditional energy sources. Investing in solar energy infrastructure could not only lower electricity costs for consumers but also enhance energy security and resilience in the face of volatile global oil prices.
NDC’s Energy Approach
Moreover, Dr. Peprah’s commentary extended to the energy strategies proposed by the opposition National Democratic Congress (NDC), which predominantly emphasize hydro and thermal power generation.
While acknowledging the NDC’s historical focus on conventional energy sources, Dr. Peprah suggested that the party could benefit from revising its approach to incorporate solar power into its energy portfolio, especially in light of evolving global trends and technological advancements in renewable energy.
“I don’t know why the NDC focuses on still the hydro system providing energy and thermal because we know the NDC when they were in power focusing on the Takoradi plant, the T1 [and] T2 project.
“They also helped in the Akosombo expansion and the Bui [Dam] when President Kufuor did the Bui, they also went further.”
Dr. Williams Kwasi Peprah, an associate professor of finance at Andrews University in Michigan
This shift in focus could be crucial for Ghana’s future. Solar energy, in particular, offers numerous advantages. It’s abundant in Ghana, requires minimal maintenance, and can be deployed both on-grid and off-grid, making it accessible to rural communities. Moreover, advancements in technology have made solar panels more efficient and affordable than ever before.
“I’m sure, probably, as we move on and if NDC wins the election, I will not be surprised that they may go and tweak and look at the energy policy and they also include the solar power project into their planning.”
Dr. Williams Kwasi Peprah, an associate professor of finance at Andrews University in Michigan
His suggestion that the NDC might eventually adopt more renewable energy initiatives reflected a broader trend in global energy policy, where the shift towards green energy is increasingly seen as both an environmental necessity and an economic opportunity.
As Ghana moves forward in its quest for energy independence and sustainability, it’s crucial that policymakers prioritize innovative solutions that balance economic viability with environmental responsibility. The NPP’s green energy policy, if implemented effectively, could serve as a model for other African nations seeking to transition away from fossil fuels.
