Solar Energy. Yes, it's official. Solar energy is now cheaper than grid electricity. Here are the numbers in clear detail

Cost Per kWh
NGN

Generator 95 (Range between N70-N120, based on the latest Fuel Prices)
PHCN 23
Solar Energy (Solynta Energy) 22.95

So how have I calculated the Solar Energy Cost per kWh? Here's how.

Cost of Standard 2kW System (8 * 250W Monocrystalline Solar Panels) NGN 1,400,000
Replacement cost of Inverter every 10 Years - 3.75KVA NGN 175,708
Replacement cost of Batteries every 5 Years - 4 * 200AH NGN 644,800

Total NGN 2,220,508

Net Present value of cashflows, discounted at 20% (Cost of Capital) NGN 1,508,973

Total Energy Produced by 2kW System over 20 Years 65,745 kWh's

Therefore, cost per kWh is ....... 1508973/65745 = 22.95

The Following assumptions were used in calculating total energy production over 20 years:

1. Average Peak Sunlight Hours - 5
2. DC to AC conversion rate - 0.9

So, total is calculated as: 2kW * 5 * 0.9 * 365.25 * 20 = 65,745

It's official. Solar Energy, at the prices Solynta Energy will sell it at, is the cheapest form of energy in Nigeria. It also represents an huge 75% cost reduction on the average cost of self generated electricity in Nigeria. This is BEFORE the impending removal of the remaining fuel subsidy still 'enjoyed' by Nigerians. This wil increase the cost per kWh from generators by 50% to N135.

Discuss

Regards

Uvie

Okay. How much does after sales service charge cost ?

lari03: Okay. How much does after sales service charge cost ?

Zero. There are no maintenance costs. The entire cost of a Solar Power system are upfront. Solar Panels have no moving parts and don't break down. They are fixed to your roof and continue to produce free energy for at least 25 years. That's the beauty of Solar Energy. It's the solution to Nigeria's power problem.

Within 10 years, the power problems experienced in Nigeria will be eliminated.