Economic Growth, Population Dynamics and Electricity Consumption in Ghana

Abstract:

This research employs a multiple linear regression analysis to explore the relation-ships between economic and population dynamics and electricity consumption within Ghana. From the multiple linear regression analysis, we deduced coefficients and p-values for the independent variables, highlighting significant predictors. While some variables lack statistical significance, those that are significant yield insights into resource allocation. Notably, economic growth indices demonstrate a meaningful relationship with electricity consumption, while Population provides valuable yet less statistically significant in-sights. In conclusion, this research’s multiple linear regression analysis furnishes actionable insights for energy resource allocation in Ghana. Understanding the complex interplay between economic growth, population changes, and electricity consumption empowers stakeholders to make informed decisions that bolster energy security, sustainability, and economic growth. Though illuminating, this study acknowledges certain limitations and calls for further research to refine our comprehension and inform comprehensive energy strategies.

• Periodical: Advances in Science and Technology (Volume 142)
• Pages: 129-146
• DOI: https://doi.org/10.4028/p-lhOcq1
• Online since: March 2024
• Authors: David Owusu-Acheampong, Chigozie Nweke-Eze*
• Keywords: Economic Growth, Electricity Consumption, Energy Demand Analysis, Population Dynamics

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