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Modelling Renewable Energy Economy in Ghana with Autometrics

descriptionPublicationkeyboard_double_arrow_right Article , Other literature type , Preprint , Report 01 Jan 2015 Germany Publisher:Elsevier BVJournal:SSRN Electronic Journal (eissn: 1556-5068,

Authors: Ackah, Ishmael; Asomani, Mcomari;

doi: 10.2139/ssrn.2597690

Modelling Renewable Energy Economy in Ghana with Autometrics

- Summary
- Subjects
- Metrics

Abstract

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.

Country

Germany

Related Organizations

Kwame Nkrumah University of Science and Technology
Ghana
University of Cape Coast
Ghana
Kwame Nkrumah University of Science and Technology
Ghana
Ludwig-Maximilians-Universität München
Germany
University of Cape Coast
Ghana

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Keywords

Prices, Q41 - Demand and Supply, Q4 - Energy, Q21 - Demand and Supply, Q2 - Renewable Resources and Conservation, Renewable energy, energy consumption, Autometrics, Ghana, Q43 - Energy and the Macroeconomy, Q42 - Alternative Energy Sources, jel: jel:Q2, jel: jel:Q4, jel: jel:Q21, jel: jel:Q43, jel: jel:Q42, jel: jel:Q41

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