Open AccessComparative evaluation of renewable energy scenario in Ghana
Author(s) -
Ephraim Bonah Agyekum,
Vladimir Ivanovich Velkin,
Ismail Hossain
Publication year - 2019
Publication title -
iop conference series. materials science and engineering
Language(s) - English
Resource type - Journals
eISSN - 1757-899X
pISSN - 1757-8981
DOI - 10.1088/1757-899x/643/1/012157
Subject(s) - renewable energy , payback period , wind power , internal rate of return , environmental science , wind speed , profitability index , solar energy , geography , meteorology , engineering , business , finance , economics , production (economics) , electrical engineering , macroeconomics
Availability of cheap, reliable and safe energy is very essential to the growth and development of every nation. This paper assesses solar radiation and wind speed at one site each in the southern, middle-belt and northern part of Ghana to estimate the potential of integrating solar and wind energy into the country’s energy mix. The analysis included the financial viability of a possible 2.5 MW installed solar power plant in Gomoa, Kintampo and Navrongo. The RETScreen software was used for the feasibility and financial viability evaluation. The study found out that the southern part of the country experiences the least solar irradiation as it recorded 4.73 kWh/m2/day, the middle belt recorded 5.28 kWh/m2/day, the northern belt however recorded the highest level of solar irradiation of 6.07 kWh/m2/day. It was also found out from the research that the southern belt has the highest annual average wind speed of 2.8 m/s followed by the northern sector with 2.3 m/s and the least was recorded in the middle-belt with an average wind speed of 2.2 m/s. The financial indicators like the internal rate return, equity payback years, cumulative cash flows and simple profitability index all indicated that the northern sector is the best site for the development of solar energy although the other parts of the country are also positive. The impact of the development of these plants will also have a considerable impact on the environment since the research shows some 93% reduction in the emission of greenhouse gases (GHG).