“The cost of power reduces as we integrate increasing amounts of renewable energy. Solar PV specifically, being the cheapest source over its lifetime. If we compare this to diesel generation which is currently the backbone of electricity supply in Nigeria costs will be reduced.” “There is going to be a significant business case to increase renewable sources and micro-grids in the country, particularly in the area of distributed energy.” “Nigeria has close to 20,000 megawatts of power produced by diesel or gas generators. This is provides a clear opportunity for introducing or combining the existing capacity into micro-grids as well. This will also optimize the cost of energy and allow faster electrification of communities the grids could not access previously. If micro-grid projects continue to meet analyst estimates, we will be relying more on stored and renewable energy.”
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