Solar energy cheaper than traditional power in Nigeria

Solar energy has become cheaper than traditional power sources in Nigeria, according to Adewale Odugbesan, CEO of Royal Power and Energy Limited. He noted that the cost of solar technology has significantly decreased over the past 15 years, despite naira volatility. Odugbesan highlighted that the price of solar panels has dropped from around $3 per watt in 2010 to much lower today. This decline has made solar energy a more affordable option compared to diesel generators and grid electricity. Recent government policy changes, including lower import duties on solar components and the removal of mandatory grid connections for large solar generators, have further encouraged solar adoption. These developments aim to improve energy access and investment in renewable energy across Nigeria.