Economic and Environmental Sustainability Assessment of Solar Photovoltaic Technology in Nigeria: Rural Electrification Perspective

The country, Nigeria, has large solar energy resource potentials yet to be tapped while her sector continues go through insufficient electrical generation. This work identified some barriers and challenges hindering rapid development of PV applications in Nigeria suggested new strategies overcoming them cases where is profitable also considers necessary mitigation factors it not viable. economic environmental sustainability technology was assessed using Alare/Araromi village, as a case study. RETScreen modelling software used determine the feasibility production capacity Solar system total life cycle method 25 years span. Net Present Value (NPV) -$1,585,220 Benefit Cost Ratio (BC-R) -0.78 at tariff rate $0.766 /kWh greenhouse gases (GHG) reduced drastically. No profit-oriented company will ever invest such project. However, observed, that NPV becomes positive BC-R greater than unity, when lower interest higher start-up grants were introduced. provide policy makers with different alternative ways meeting needs rural areas.