The Sustainable Energy Practitioners Association of Nigeria (SEPAN) has shared an excerpt of a recent research it conducted from which it suggested that the cost of solar and wind based electricity in Nigeria could be cheaper than the current cost globally.
It said this was part of its Renewable Energy for Green Growth Nigeria (REGG-NIG) research, and that the cost of procuring a kilowatt hour (kWh) of renewable electricity could be done at $0.05, while that of a kilowatt (kW) could cost $2,300.
The research findings further stated that this was competitive when compared with the global standard of $0.08/kWh. It was obtained from the President of SEPAN, Dr. Magnus Onuoha.
SEPAN said it conducted the research to buttress Nigeria’s commitment to the Paris Climate Change Agreement, as well as support the country’s Economic Growth Recovery Plan (EGRP).
It said: “At the Paris Agreement in 2015, Nigeria represented by President Muhammadu Buhari made an ambitious commitment to the promotion of low carbon development for Nigeria. His commitment of mitigation objectives, first unconditional reduction of emission by 20 per cent and conditional reduction of emission of 45 per cent, bears eloquent testimony to this fact.”
“The key measures for this commitment is that Nigeria will be working towards ending gas flaring by 2030, generation of renewable energies especially off-grid solar PV of 13GW (1300MW), utilisation of efficient gas generators, drive towards two per cent energy efficiency per year – translating to 30 per cent energy efficiency by 2030, ensuring transportation shift from cars to buses, improved electricity grid and climate smart agriculture and reforestation.
“In effect, mainstreaming these commitments in our national budget and EGRP is very necessary to our sustainable development drive. The revenue yielding, employment generating, and poverty alleviating opportunities of these are legion.
“In line with these, it is only natural that Nigeria should develop roadmaps towards domestication and effective implementation of the agreement. One potent window which also is in line with Nigeria’s Renewable and Energy Efficient Policy (REEP) is the Renewable Energy for Green Growth Nigeria (REGG-NIG) – a SEPAN-led recent research outcome and due for public presentation,” it added.
According to it: “It is a structured renewable energy access and security programme envisioned to accelerate the deployment of RE systems in critical public and private institutions in line with plans, policies and incentives. The programme involves financing, procurement and installations, as well as management of the installed RE systems in agreement with the benefiting organisation.
“Furthermore, the programme aims at helping organisations to transition to RE and increase energy-related operational efficiency and productivity without the huge initial capital investment required for such energy transitioning. In addition, the programme will provide participating institutions with other necessary supports such as power resource mapping, energy audit, and RE systems standardization, adaptation of existing energy systems into the RE infrastructure and local content enhancement within an agreed timeline.”
SEPAN further explained that: “Finance structure of the programme is expected to embody a blend of concessional and non-concessional funds. The concessional fund is expected to facilitate REGG-NIG implementation by catering to preliminary market stimulating activities such as resource mapping and energy audit, standards development and adoption, and in-country local content enhancement.
“The non-concessional fund is expected as loan or equity and would cater to the market-driven dimension of REGG-NIG. The deployment technology of choice will include mini, off-grids and standalone systems, while the management approach will be market-based.
“REGG-NIG will emphasise solar and wind systems deployment with a portfolio standard of 62.5 per cent PV systems (125 MW) and 37.5 per cent wind system (75MW). REGG-NIG has a total cost/kW of $2,300.00 and cost/kWh of $0.05 which is highly competitive compared to the global standard of $0.08.”