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Business News Wed, 3 Jun 2020

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Increase renewable energy sources – IES to govt

As the cost for renewable energy continues to fall on the global market, the Institute of Energy Security (IES) has urged the government to take a bold decision directed at aggressively increasing the country’s renewable energy sources in the total energy mix.

The Energy Think Tank argues that, when this is done, it will reduce the high cost of electricity tariffs, and help cushion the local consumers, small scale businesses and even put Ghana on the map as an African giant in the exportation of electricity.

Speaking in an interview with Class Business, Research Analyst at IES, Raymond Nuworkpor said the government must take advantage of the development to improve its energy generation capacity.

He said: “A lot of investment and asset management companies and even including oil mergers are diversifying funding to renewable energy. At the moment I’ll say that renewable energy is having a better PR than fossil-based energy.

“Because of the campaign for sustainability and also the advocacy for climate change and also the relatively cheaper cost of renewable energy and the technological advancement in that field, as the cost of renewable energy continue to fall on the global market, Ghana must begin to take bold action directed aggressively in increasing our renewable energy sources in our total energy mix as a country.

“This will help in the long run to reduce the high cost of electricity tariffs and also help cushion the local consumer and also the small-scale businesses and even put Ghana on the map as African giant in the importation of electricity.”

Source: Class FM

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