Renewable Energy is energy that is collected from renewable resource, which are naturally replenished on a human timescale, such as sunlight, wind, rain, tides, waves, and geothermal heat.
Renewable energy often provides energy in four important areas: electricity generation, air and water heating/cooling, transportation, and rural (off-grid) energy services.
Nigeria has enormous solar energy potential, with fairly distributed solar radiation averaging 19.8 MJm2/day and average sunshine hours of 6h/day. The assumed potential for concentrated solar power and photovoltaic generation is around 427,000 MW.
According to estimates, the designation of only 5% of suitable land in central and northern Nigeria for solar thermal would provide a theoretical generation capacity of 42,700 MW.
SOLAR RADIATIONS: Solar energy is also one of the oldest renewable energy sources in the world. This energy is taken from the sun in the form of solar radiation. There are basically three ways that we can use the sun’s energy;
- Solar cells in which photovoltaic or photoelectric cells are used to convert light directly into electricity.
- Solar water heating in which the heat from the sun is used to warm the water in glass panels of solar energy system therefore no longer requiring gas or electricity to heat the water.
- Furnaces that use mirrors to capture the sun’s energy into a concentrated place to produce high temperatures.
Stable Energy Prices
Renewable energy is providing affordable electricity across the country right now, and can help stabilize energy prices in the future.
Although renewable facilities require upfront investments to build, they can then operate at very low cost (for most clean energy technologies, the “fuel” is free). As a result, renewable energy prices can be very stable over time.
Moreover, the costs of renewable energy technologies have declined steadily, and are projected to drop even more. For example, the average price to install solar dropped more than 70 percent between 2010 and 2017. The cost of generating electricity from wind dropped 66 percent between 2009 and 2016. Costs will likely decline even further as markets mature and companies increasingly take advantage of economies of scale.
In contrast, fossil fuel prices can vary dramatically and are prone to substantial price swings.
Using more renewable energy can lower the prices of and demand for natural gas and coal by increasing competition and diversifying our energy supplies. And an increased reliance on renewable energy can help protect consumers when fossil fuel prices spike and the Climate.
Needless to say, the intrinsic benefits of Renewable Energy is greatly untapped, which is why, at RS Engineering Global Limited, we are in business to develop and operates utility-scale solar PV projects for the wholesale and retail market in Africa. The Company also provides operation and maintenance (O&M) services for investor/owners.
“We believe solar makes the world cleaner and healthier. Our team successfully develops, builds and operates solar facilities across Africa.”