|Overview : Ghana has embarked on a project aimed at transforming the refrigerating appliance market from one of inefficient appliances to energy efficient market guided by performance standards and a labelling regime. The Global Environment Facility (GEF) has approved a project for Ghana titled “Promoting Appliance Energy Efficiency and Transformation of the Refrigerating Appliances Market in Ghana” under which the GEF is supporting activities aimed at realizing the goal of the Ghana initiative.
A major component of the project will include an appliance rebate and turn-in program, which will include subsidies on new efficient refrigerators that will be mainly financed by the Government of Ghana, with equipment support from GEF. It will have selection criteria which may include equipment that could have energy consumption improvements through subsidized replacement of the refrigerant. This will be implemented on a pilot basis and subsequently rolled out for National scale-up.
Climate change mitigation finance is perhaps one of the most promising forms of sustained finance for a national scale program. Yet crediting procedures and methodologies are complicated and sometimes controversial. With the evaluation studies of the pilot programs, this project will have some of the best and most accurate data regarding the potential climate impacts of refrigeration appliance market transformation programs. With this information, the International Consultant should re-evaluate climate financing potential from both the compliance and voluntary carbon credit markets and provide detailed estimates of carbon market financing revenues and expenses.|