Ghana’s economic growth minus fossil fuels
Fossil fuels provide substantial economic benefits. These same fuels also represent the economic mainstay of resource-rich countries and the world’s largest firms.
Most developed countries, like the United States, have enacted Acts that address the dangers of fossil fuels combustion. Notably, the United States Clean Air Act of 1970 and 1977 addresses the potential effects of airborne conventional pollutants and further imposes regulations and standards to reduce greenhouse gas emissions.
Governments around the world have imposed myriad restrictions on the consumption of fossil fuel. For example, British Columbia’s relatively longstanding carbon tax is credited with a 13% reduction in per capita emissions between 2008 and 2013. United States former President, Barack Obama pledged to reduce CO2 emissions by 26% to 28% below 2005 level by 2025. Yet, in many of the world’s largest and developing economies, fossil fuel consumption is still exacting heavy toll on human health.
However, there has been a new drive to encourage alternative energy sources, and in 2011 renewable energy accounted for more than 20 percent of global power generated. Still one in five people lack access to electricity, and as the demand continues to rise there is the need to be a substantial increase in the production of renewable energy across the world.
Ensuring universal access to affordable electricity by 2030 means investing in clean energy sources such as solar, wind and thermal. Adopting cost-effective standards for a wider range of technologies could also reduce the global electricity consumption by buildings and industry by 14 percent. This means avoiding roughly 1,300 mid-size power plants. Expanding infrastructure and upgrading technology to provide clean energy sources in all developing countries is a crucial goal that can both encourage growth and help the environment.
Sustainable energy is one of 17 Global Goals that make up the 2030 Agenda for Sustainable Development. An integrated approach is crucial for progress across the multiple goals.
Renewable resources such as sunlight are in abundant supply and probably will never deplete or run out. Thus, renewable energy can serve Ghana as its sustainable and consistent source of energy and save it from the problem of shortages which routinely affect the nation.