The bill seeks to enhance energy security and provide a regulatory framework that would enable investors in the industry to ply their trade devoid of barriers.
Dr Alfred Ofosu Ahenkorah, Executive Secretary of the Commission, who addressed a three-day press retreat at Aburi in the Eastern Region, said the law would provide a feed-in tariff mechanism to encourage by legislation the adoption and use of renewable energy.
The law would also make provisions for renewable energy purchase obligations for obligated entities to procure specific percentage of their energy needs from renewable sources.
Dr Ofosu Ahenkorah explained that the law would make provision for the establishment of a renewable energy fund to provide resources for a greater uptake of renewable energy activities.
“The potential therefore, for Renewable Energy to become an integral part of the energy mix of the country will be realised with the coming into force the Renewable Energy Law,” he said.
The Executive Secretary said the Commission has established licensing frameworks and manuals for service providers in the power and natural gas industries and a permitting structure for renewable energy services providers and bulk customers of electricity.
Mr Kwabena Otu-Danquah, Head of Renewable Energy Promotion at the Commission, said the body has implemented the Ghana Development and Access Project (GDAP)/ World Bank Project on the measurement of wind speed in Greater Accra, Central and Western Regions.
The GEDAP seeks to assist government to improve the operational efficiency of the electricity distribution systems and increase the access of the population to electricity, while transforming the country into a low-carbon economy through the reduction of greenhouse emissions.
He said very soon the Commission would install seven wind measuring systems in some selected sites for data collection to begin.
“The Commission also implemented the grid connected solar PV (Solar photovoltaic) project to support the installation of grid connected solar systems equipped with reversible meters,” he added.
He said a preliminary analysis of the grid connected solar PV systems confirmed that the cost of electricity generated by the mechanism is dropping in the country.