Question

The types of power plants functioning in Nigeria are the hydro-electric and the thermal/fossil fuel power plants. North part of Nigeria is dry and hot. If you plan to have solar PV farms installed there and sell the produced electricity to its neighbor countries, can you make profit? Please give the detailed explanation with the calculated numbers to prove whether this is feasible or not.

Answer 1

Answer: Yes

Explanation:The Pv( polyvoltaic)type solar panels are a very durable solar panels they have an average life span of about 20years. The estimated cost of installation of a 200kw type ranges from about #45000($123.3) the average maintenance cost is about $15/ panel in one year,the PV type solar panels have the capacity to generate up to 80% of it's rated power

Let say a 200kw PV solar system will generate about 160KW of electricity in Nigeria the average cost of electricity is($0.071) for house hold and ($0.15) for businesses

For a house hold that requires 2kwh/day= 2*$0.07*365days* 8households *20yrs( life span of the PV solar panel)=$8176 this is computed at 80% capacity generation.

Total cost of installation is $123.3/ panel+($15/panel per year*20yrs life span)=$423.3

Profit=revenue-total cost

Profit=$8176-423

Profit=$7752.7.

All this data were taken from updated values in Nigeria.