FP231

The Accelerating Solar Action Programme (ASAP) supports Ghana’s much-needed transition away from fossil fuels, in line with the country’s Nationally Determined Contributions (NDC) priorities. Current mitigation efforts to reduce greenhouse gas (GHG) emissions are being impeded by the impact of climate change on water resources. The reduced hydropower capacity, which is Ghana's primary source of renewable energy, is being offset by a growing dependency on fossil fuels. Despite the potential of solar photovoltaic (PV) technology to prevent a fossil-fuel lock-in, limited financial and technical capacities hinder its adoption nationwide. Ghana's installed solar capacity currently represents less than one per cent of the energy mix.   

ASAP's objective is to address these barriers. Implemented and co-funded by Ecobank Ghana Limited, the programme leverages concessional finance to promote the adoption of distributed solar PV systems among Micro, Small, and Medium Enterprises (MSMEs) and households. This initiative not only has the potential to lower Ghana's GHG emissions but also aims to promote sustainable energy financing. The programme also features capacity development activities across all key stakeholders, including Ecobank Ghana, distributed solar PV vendors, and the Energy Commission of Ghana. Better access to credit, robust demand from borrowers, decreased cost of technology and equipment, along with enhanced technical expertise among solar PV vendors and regulators, are anticipated to create a significant market size for solar PV. This development is expected to contribute to Ghana’s long-term energy security.