Energy Strategist and Senior Oil Production Specialist, Dr. Yussif Sulemana has indicated that, for the country to adopt an effective energy mix approach, it will depend on the efficiency of the power generation method employed.
In an interaction with the Vaultz Media, on which energy generation method was affordable, he indicated that it depended on efficiency.
“So, it all depends on efficiency. And I think if you compare renewables to non-renewables, I think currently as we speak, non-renewable looks cheaper. However, with very much efficiency as we speak, then renewable could take advantage of that.”
He further said that, If there is efficiency in the generation of renewables, then renewables could be okay adding that, renewable has an added advantage of contributing to minimizing global warming so with this advantage, even if the cost is the same, but the added advantage of renewables not emitting greenhouse gases into the atmosphere I think its better to look at renewables.
Dr. Sulemana further posited that, everything also had to do with economics. He revealed that, non-renewables hold the advantage economically and believes that with efficiency, renewables could be competitive.
“First of all, efficiency is key and also renewable is usually more stable, non-renewable is more dependent on the prevailing global market of the oil price, which is volatile. You can’t decouple the cost from efficiency. The more the efficiency of the generation mix, the lesser the cost. So as at now, they are almost competitive.”
He revealed that some prices of renewables compared to thermal are relatively cheaper adding that with efficiency, renewables can come into the business.
He then intimated that, all that the nation needed is the requisite atmosphere, the required investment climate and the support that investors need to invest in renewables.
He also reiterated the fact that with more investments and more power availability; the cost will come down adding that, if the nation allows the chance for renewables to come up, it will generally reduce the cost per Kilowatt hour(KWh) of what the end-user pays for electrical power
““If we want to go purely renewable in fact our industrialization … will run to a halt. Infact globally, nobody has done that and nobody can do that. It’s one thing having the resources but the important thing is having the commitment. Let’s work towards 50-50 and even with that a lot of investment is required.”
He further said that, the 10% renewable energy target of the country is very low. And suggested that, the nation should be looking at atleast a 25-30% of renewable energy generation.
“I think 30% would have been ideal looking at the fact that most nations are turning their investment towards renewables.”
He then revealed that, majority of investors in the oil industry are now shifting their investments to renewables and posited that, compared to the global rate of renewable energy use, Ghana was far behind.
He then said he nation must ensure that our power generation points must gravitate to the use of natural gas because that’s closer to clean energy. He added that once the use of natural gas is underway we can then gravitate to the use of renewables.
He noted also that, for the renewable goal to be achieved a proper attitude will be required, which deals with allowing for proper planning and also allowing the private sector participation to create a competitive environment.
“Once the private sector participates, there will be efficiency and once there is efficiency, the cost of power generation will come down.”
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