Nigeria has a lot of potential for developing its solar power industry due to its abundant sunshine and high levels of solar irradiation. Also, interest in and investment in solar energy in Nigeria have grown recently. The desire to enhance the nation’s electrical supply and lessen its dependency on fossil fuels has contributed to this.
Thus, stakeholders have given the government and pertinent agencies the job of researching solar energy to increase the nation’s electricity production. They decided in a workshop that Rubitec Nigeria Ltd and Jinko Solar jointly organized in Lagos. Bolade Soremekun, the Chief Executive Officer of Rubitec, encouraged Nigeria to emulate nations. Countries such as France and Germany that use solar energy to increase a reliable supply of electricity. He also mentioned that using solar energy in Nigeria was more cost-effective for developing the country. In his speech, Bolade, said that it was important for raising people’s standards of living.
In addition to Bolade’s statement, David Arinze, a solar engineer, says the usage of solar power is steadily gaining ground in Nigeria. He claims that many Nigerians who utilize solar energy are aware of its benefits. Moreover, solar energy is also used to power a few institutions in Nigeria. Communities all around the country that are off the grid also rely only on solar energy systems to power their homes.
In David’s opinion, installing a solar system may be a wise investment that is low-risk, and contributes to long-term cost savings. As compared to more conventional investments like equities and bonds, purchasing a solar system pays for itself within three to five years. Plus, it comes with a Return on Investment (ROI) of at least 20%.
Furthermore, Ikponmwosa Oghogho stated that “Since solar energy in Nigeria has numerous advantages when compared to conventional fuel. Plus, there are recent giant strides in improving solar cell efficiency. Then using a photovoltaic (PV) device that converts 40.8% of the light that strikes it into electricity is more economical. Then, for the economy’s energy future to be secured, the nation “has to reorient herself by investing in this priceless resource.
As part of our attempts to maintain an off-grid market for renewable energy, Nigeria must use its enormous potential. To produce and even export components for solar energy systems, such as panels and inverters. At a send-forth interactive session with stakeholders held in his honour in Abuja, renewable energy expert and outgoing Chief Executive Officer of the energy company All-On, Dr Wiebe Boer, gave this advice while speaking on the theme: “Foundational Bricks for a Successful Off-grid Market.”
Luckily, the government has recognised the potential of solar energy in Nigeria and saw it as part of its COVID-19 economic recovery strategy. It would concentrate on building out its solar power infrastructure. By 2030, the government wants to produce 30% of the nation’s power from renewable sources, which include solar energy.
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In an interview with Guardian Nigeria, Kola Adesina, the Group Managing Director of Sahara Power Group. Also stressed the necessity for Nigeria to switch to renewable energy sources, such as solar. He stated that Nigeria has a lot of solar resources and that solar energy is getting cheaper. However, due to a variety of obstacles, including a dearth of necessary infrastructure, expensive up-front expenses, and insufficient rules and regulations to assist the growth of solar energy, the nation has not yet fully realised this potential. He believes that to lessen its reliance on fossil fuels, the nation has to take advantage of this trend.
Prof. Chinedu Nebo, a former Minister of Power in Nigeria, stated on Business Day Nigeria that the solar energy in Nigeria potential is “immense and could fuel the country’s electrical demands as well as sell to neighbouring nations.” He adds that “Nigeria has to provide legislative and regulatory frameworks. That stimulate investment and growth of the industry to create an enabling environment for solar energy investment.” Vera Nwanze, the General Manager of Azuri, also asserts that solar energy in Nigeria may lower poverty rates for those who reside in rural regions. While also halting climate change. She said that solar energy, has replaced kerosene and candles, and offers clean, sustainable, and economical access to power.
Prof. Magnus Onuoha, National Vice Chairman of the Renewable Energy and Energy Sufficiency Association (REEEA), asked the government at all levels to increase investment in renewable energy. His reason was because it’s a substitute source to increase the nation’s supply of electricity. Additionally, Nigeria’s energy mix might benefit greatly from solar energy. Hence, to stimulate the use of solar energy in Nigeria, the government must offer incentives and subsidies.
The Nigerian Energy Support Programme (NESP) stated that, “Solar energy provides Nigeria with the chance to deliver electricity to its distant communities. Which are not currently covered by the national grid. However, the government must foster an atmosphere that encourages investment in the industry. Hence, it is important to note Nigeria might produce up to 1,575 Megawatts of power by using it. The research also noted the several impediments to the development of the solar business in the nation. Such as a dearth of favourable regulatory and policy frameworks and restricted access to funding.
Additionally, for individuals and companies in Nigeria, solar energy can deliver dependable and economical power. It can assist in addressing Nigeria’s ongoing issues with energy availability. This can be made possible because solar energy is especially well-suited to the country’s environment. Hence, to ease the nation’s electricity shortage, The Nigerian Renewable Energy Association (NREA) has promoted the usage of solar energy. The organization has urged the government to develop regulations. That would aid in the development of the nation’s solar energy sector.
Conclusion
With the immense wealth of solar resources, Nigeria has a huge possibility to become a large solar energy producer. Olumide Fatoki, Executive Director of the Nigerian Energy Support Programme (NESP). Therefore emphasized the potential of solar energy to enhance energy access and assist economic growth in Nigeria. He has urged more funding for solar development and projects, particularly in remote places with little access to power.
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