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Ghanaian government plans to introduce Nuclear energy
- Ghana has seen an increase in power cuts
- IES says Nuclear, an unfavorable option
The Ghanaian government is seeking to introduce Nuclear energy into the country’s energy source mix. This is coming on the heels of the recent increase in the power cuts around the country. The government argues that Nuclear energy can make up for the supply shortages and offer a cheaper, reliable source of energy to the consumers.
The Institute for Energy Security (IES) has described the plans of the government to introduce Nuclear as ill-advised and not in line with the global push for cleaner sources of energy. According to data from the U.S. Energy Information Administration (EIA) and financial advisory and asset management firm, Lazard; wind and solar sources of energy are more economical than Nuclear. Using the Levelised Cost of Energy (LCOE) trends, the costs of Nuclear power per kWh has risen by 61% between 2010-2019. This is in comparison to the 84% drop in prices for solar power within the same period. According to Lazard’s firm, other factors to consider include the time frame for construction, safety, and investment issues.
The Ghanaian government must consider these factors before the introduction of Nuclear energy into the country’s energy portfolio.