The Eight Hundred and Thirty-Second ACT of the Parliament of the Republic of Ghana entitled: Renewable Energy Act, 2011 has assented to provide for the development, management, utilization, sustainability and adequate supply of renewable energy for generation of heat and power for related matters by the year 2020. With the current load shedding and inadequate energy supply in Ghana, it was essential to examine other options that can be added to the grid installed capacity to ease the burden on Ghanaians. The study examined the solar energy resources in Ghana and how this huge potential can be utilized to grow and modernize the Ghanaian economy in order to decrease the high prevalence of poverty. Access to energy has been proven to directly affect human development, therefore, an option of the diversified local energy mix for electricity production will be the best choice to improve an energy economy that would guarantee a safe and consistent supply of high-quality energy services for all Ghanaian. Evidence from the study shows that Ghana has a good potential for both concentrating and non-concentrating solar technologies. It is estimated that 50-100 MW solar energy potential are still untapped in Ghana which requires an investment of US $100-150 million. Developing and harnessing this renewable energy potential will boost the productivity of businesses, industries, and the transport sector while making a significant contribution to the export earnings of the country.