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This research aims to explore how financial literacy and environmental awareness influence renewable energy adoption among SMEs in Ghana.

March 7, 2026Discover SustainabilityOpen Access

Financial literacy, environmental awareness and green investment readiness in renewable energy adoption by SMEs in Ghana

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This research aims to explore how financial literacy and environmental awareness influence renewable energy adoption among SMEs in Ghana.
Analysed survey data from 850 SMEs in Ghana
Utilized PLS-SEM for data analysis
Investigated relationships between financial literacy, environmental awareness, and renewable energy adoption
Environmental awareness has a strong direct effect on renewable energy adoption (β = 0.519, p < 0.001)
Financial literacy positively impacts renewable energy adoption (β = 0.398, p < 0.001)
Green investment readiness significantly mediates the effects of both financial literacy and environmental awareness on renewable energy adoption

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Investigates the role of financial literacy and environmental awareness in renewable energy adoption by SMEs, indicating crucial policy implications.

Padi et al. (2026) studied this question.

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Investigates the role of financial literacy and environmental awareness in renewable energy adoption by SMEs, indicating crucial policy implications.