Subsidy removal on Premium Motor Spirit (PMS) and the jostle towards the right pricing of electricity may have triggered a major shift in the pattern of energy consumption, with about 75 per cent of households now exploring solar as their alternative sources of energy.
A multi-dimensional survey conducted to assess Nigerians’ response to the almost 200 per cent increase in the pump price of PMS revealed that the majority of households are planning to embrace solar energy, even as service providers are contending with a surge in requests for low-capacity utilisation equipment. Despite the interest in alternative energy like solar, onboarding costs remain a huge concern and setback for those exploring the option, especially in a country with a high percentage of people living in various forms of multidimensional poverty.
Specifically, an average solar-inverter system for small households costs between N500,000 to N1 million considering the high costs of batteries, solar panels and inverters. Many Nigerians do not have much disposable income to adopt such energy systems but would continue to rely on the grid and minimise the use of generating sets.