Energy development: A global perspective and advances in Ghana

Abstract

Climate change, population increase, and urbanisation present severe threats to energy security throughout the world. As a result, governments all over the world have made significant investments in diversifying and developing local energy systems, notably in the renewable energy sector. In this light, this review was conducted to analyse the production trends of fossil energy, renewable energy and nuclear energy, as well as the impact of renewable energy production on fossil energy production, between 2000 and 2021. Using correlation and regression analysis, the relationship between these energy sources and the impact of renewable energy on fossil energy production were studied and then measured against similar studies in the literature. The findings showed an increasing trend in fossil energy and renewable energy production and a slightly decreasing trend in nuclear energy production from 2000 to 2021. In addition, there was a significant impact of renewable energy production on fossil energy production in the last two decades. In Ghana, it was found that the addition of solar energy generation to the national grid significantly influenced thermal energy generation. On the whole, renewable energy production has significantly increased over the last decades, and it has the potential to reduce the dependence on fossil energy if effectively developed and managed. Therefore, future energy development should focus on more research and development in the area of smart and efficient renewable energy technologies.