Empirical Analysis of Renewable Energy Demand in Ghana with Autometrics
Ishmael Ackah and
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Mcomari Asomani: Policy Unit, Africa Centre for Energy Policy, Accra, Ghana.
International Journal of Energy Economics and Policy, 2015, vol. 5, issue 3, 754-758
Increased investment in renewable energy (RE) has been identified as a potential solution to the intermittent power supply in Ghana. Recently, a RE Act has been passed which has a target of 10% of RE component in Ghana’s energy mix by 2020. Whilst effort is been made to enhance supply through feed in tariffs, education and tax reduction on RE related equipment, there is the need to understand the drivers of RE demand. Due to dearth of studies on RE demand in Ghana, this study seeks to fill both policy and research gap on renewable demand trend in Ghana. In this study, the general unrestricted model through autometrics is used to estimate the determinants of RE demand in Ghana. The results indicate that both economic factors and non-economic affect the demand for RE. In addition, the underlying energy demand trend exhibits energy using behaviour. The study recommends that economic factors such as consumer subsidies should be considered when promoting RE demand.
Keywords: Renewable Energy; Energy Consumption; Autometrics; Ghana (search for similar items in EconPapers)
JEL-codes: Q41 Q42 Q43 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2015-03-15
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