Modelling Renewable Energy Economy in Ghana with Autometrics
Ishmael Ackah and
MPRA Paper from University Library of Munich, Germany
Renewable energy consumption has been identified as a potential solution to the intermittent power supply in Ghana. Recently, a Renewable Energy Act has been passed which has a target of 10% of renewable energy 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 renewable energy related equipment, there is the need to understand the drivers of renewable energy demand. In this study, the general unrestricted model through Autometrics is used to estimate the determinants of renewable energy demand in Ghana. The results indicate that both economic factors and non-economic affect the demand for renewable energy. 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 renewable energy demand.
Keywords: Renewable energy; energy consumption; Autometrics; Ghana (search for similar items in EconPapers)
JEL-codes: Q2 Q21 Q4 Q41 Q42 Q43 (search for similar items in EconPapers)
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