n Journal of Emerging Trends in Engineering and Applied Sciences - Assessment of solar PV-grid parity in Akure, South-West Nigeria

Volume 2, Issue 3
  • ISSN : 2141-7016
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Solar energy potential in Akure, South-West Nigeria is considered substantial. Deployment as an alternative or additional electric energy source is also considered possible. However, the unit cost of the energy so produced is exorbitant compared to the cost of its grid counterpart thereby slowing down appreciable deployment. Considering the advantages of solar energy over conventional energy sources in terms of cleanness, environment friendliness, renewability and free availability, this work cost-comparatively analyzes both sources of energy with a view to assessing the timing of its parity with grid supply and factors which may influence early achievement of this condition. It was discovered that solar PV-grid parity is attainable only on the long term in the study region. Noting that the average useful life of solar panels is 25 years on account of cell degradation, it is important that parity and consequently, energy cost superiority over grid supply is achieved within the short to medium term. This way, the superior advantages of solar PV over other conventional sources of energy may be widely accessed. This work suggests action plans that may be pursued to achieve this.

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