Ghana obtains its energy supplies from electricity, petroleum, fuelwood, and other renewable energy sources, such as solar. Though electric power constitutes only 16 percent of Ghana’s total energy consumption as of 2020 according to the Energy Commission, it plays an important role in the country’s economy, powering its industrial, commercial and domestic sectors.
Hydropower is energy that is harnessed from the force of moving water. It is the world’s largest source of affordable renewable energy and accounts for about 20 percent of world electricity supply. Hydropower projects provide multiple economic and environmental benefits to countries as they offer a hedge against rising energy prices and can play an important role in energy trade and regional power pools.
Renewable energy is derived from natural processes that are replenished constantly. It includes electricity and heat generated from solar, wind, ocean, hydropower, biomass, geothermal resources, biofuels and hydrogen. Biomass is a major source of energy for the majority of Ghanaians, and will continue to contribute substantially to national energy demand.
In 2007, Ghana’s exploration agency, the Ghana National Petroleum Corporation announced the discovery of oil in commercial quantities off Cape Three Points in the Western Region. Oil and gas resources are vital to human kind as technological advancements have developed many valuable uses that promote economic well-being. Perhaps no other industry taps a more diverse set of human, political, and technological capabilities than the oil and gas industry
Ghana has found itself increasingly hard pressed to meet growing demands for reliable and affordable electricity. Between 2010 and2020, the country’s electricity consumption grew at an average rate of 8 percent per annum putting enormous pressure on the electric utilities and straining generation capacity to its limits.
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