Finance Minister Dr Cassiel Ato Forson has announced plans by the government to introduce import duty and Value Added Tax (VAT) exemptions on solar panels and batteries as part of efforts to promote renewable energy and reduce electricity costs in Ghana.
Presenting the 2027 Budget Statement and Economic Policy to Parliament, Dr Forson explained that the proposed tax incentives are intended to make solar energy systems more affordable and encourage households, businesses and industries to invest in alternative energy solutions.
According to the Finance Minister, the exemptions will improve access to solar power equipment for various sectors of the economy, including traders, farmers, schools, healthcare facilities and manufacturing industries.
He urged households, farmers and businesses to take advantage of the proposed incentives, highlighting Ghana’s abundant sunshine as an important resource for meeting the country’s energy needs.
Dr Forson noted that expanding access to solar energy could support agricultural production, industrial development, transportation and other productive economic activities.
The Finance Minister further explained that the proposed tax relief measures form part of the government’s broader renewable energy policy aimed at reducing dependence on conventional electricity sources, promoting sustainable energy solutions and strengthening Ghana’s energy security.
The initiative is also expected to encourage greater private-sector participation in the solar energy industry while helping households and businesses explore more affordable and sustainable electricity options.
Source: newsthemegh.com