As the use of solar energy has become cheaper than running diesel generators, in Nigeria energy users are not yet fully aware of the specific new competitiveness of the renewable resource.
To address this knowledge gap, a Nigerian-German solar initiative, Let’s make solar work, has officially launched a new online ‘PV-Calculator’ on its website.
The tool compares costs of solar power with the currently existing diesel generation costs for a specific planned PV project and generates an individual economic approximation for the considered solar investment. Read more: Global renewable generation capacity expands by 8.3%
The company claims that the platform is handy, “quickly generates numbered results and has demonstrated to be fully working after an initial 1-month test period.”
Made by a team of German experts, the tool automatically calculates the LCOE, Payback, Equity IRR, Project IRR, NPV from just a few data inputs. This allows potential buyers to gauge their planned solar system investment.
Solar suppliers are able to prepare for customer/stakeholder meetings and to come into play with first concrete numbers.
In this context, the initiative also recently published an original Survey Report describing the energy situation specifically among mid-sized power users such as SMEs and social facilities.
Demand-side requirements and planned power investments are analysed, recommendations on how to develop the solar market for SMEs and social facilities in Nigeria are presented and currently implemented.
“Most mid-sized power consumers in Nigeria including small and medium sized companies (SMEs), public facilities, have one thing in common; they run their own diesel generators,” said Dotun Tokun from Solarmate Engineering Ltd.
“Operation gets increasingly expensive as diesel prices rise. Also, surveys have shown that generators are often oversized and thus run inefficiently. This drives power costs further up,” Tokun added.