Ghana Renewable Energy Industry Market Report
- The Trade Adviser
- Jun 2, 2024
- 1 min read
Updated: Jun 4
Sector Overview
The renewable energy sector in Ghana is rapidly evolving, driven by the government's commitment to diversifying its energy mix and reducing reliance on fossil fuels. As of 2023, the renewable energy market in Ghana is valued at approximately USD 500 million, with an annual growth rate of 15% over the past five years (source: Ghana Energy Commission).
The sector's contribution to the national energy supply is around 7%, with significant potential for future growth. Ghana's GDP was USD 74.26 billion in 2022, and the renewable energy sector is poised to play a crucial role in the country's sustainable development. Projections indicate that the market could reach USD 1.2 billion by 2030, supported by investments in solar, wind, and biomass energy projects.
