Development of a Toolbox for Renewable Energy Tariff Design
EMRC developed a toolbox consisting of several standard tariff models to calculate tariffs for renewable energy technologies. Models from the toolbox will be successfully adapted and used to calculate renewable energy tariffs for the Economic Community of West African States (ECOWAS) member States.
The toolbox was used to support regulators, ministries and utilities to calculate renewable tariffs for independent power plants, private mini-grid operators and prosumers in two countries (The Gambia and Cabo Verde).
EMRC also developed a user manual and carried out training of key personnel from ECOWAS ministries, regulatory agencies and utilities on using the toolbox. Detailed validation and training was carried out in The Gambia and Cape Verde, as well as wider regional training and validation. Representatives of Sierra Leone attended the regional training in Abuja. In Cape Verde, we applied the UNDP Derisking Renewable Energy Investment methodology to test the impact of different policy options on the cost of capital for wind and solar energy.