The Solution To Power Challenges In Nigeria
Yes, we’ve got the solution to power challenges in our dear country. Surprised? Let’s dive in!
It’s common to rejoice each time power supply is restored because there usually has been total black out for a long while.
Most brands spend a lot on fuel in order to have power to keep business operational. Some others may have to work in darkness.
The Good news
When there’s a problem to be solved, there is a huge opportunity for wealth creation.
Nigerian oil billionare Otedola sold his stake in Forte oil to focus on Geregu Power which he acquired in 2013. That clearly shows the trillion dollar opportunity in electricity market.
Solar energy in the United States
In 2016, the United States made a 40 years milestone in the first million solar installations, tops two million installations in 2019 and would surpass 4 million installations by 2023.
Amergy, a home Nigerian renewable energy firm just raised 9 million dollars to scale up which may take 10 years to yield. The worst case scenery is when such investment isn’t considered, there would be regrets 10 years later.
Mr Uzochukwu Mbamalu, CEO Manamuz Electric LTD, an Electronic engineer who has deployed 72 solar energy installations since 2012 till date, in the just concluded Mandela Washington event revealed the signs of an energy revolution in Nigeria.
He further buttressed that Nigeria generates more power from generator alongside other power sources apart from the national grid.
Nigeria has an annual 9.2 billion dollar market opportunity for mini grids and solar home systems. This market opportunity, when exploited could save Nigerians up to 4.4 billion dollars annually.
Solar Energy Revolution
Mr. Mbamalu further explicated that the Solar Photovoltalic technology makes it possible to generate electricity from the sun with the aid of solar panels.
The Germans developed solar Photovoltalic technology and the Chinese scaled its manufacturing.
Currently, Nigeria has the biggest market opportunity for off grid solar in Africa.
Popular applications for Solar in Nigeria
- Stand alone / hybrid solar power systems
- Solar home systems
- Energy storage systems
Mr. Mbamalu assures Nigerians that investing in innovative ways such as solar, energy can be cleaner and universally available.
Manamuz Electric Limited is geared towards solving Nigeria’s power challenge with solar.
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