A Preliminary Evaluation of Renewable Energy Technology Financing Options for Nigeria
Abstract
Renewable energy technologies (RETs) ought to play a complementary role to conventional energy technologies as these have the potential to meet up energy needs in rural areas with regards to access, availability and affordability. Despite these potentials, the current challenge is how to finance their deployment and services. Since long-term growth in the market for RETs is going to be determined by social and economic development that is occurring in both the rural and urban areas as well as the ability of these technologies to compete financially with other energy options on a level playing field, there is need to evaluate various options available to finance the deployment of RETs in Nigeria. This paper attempts a preliminary evaluation of the possible options and their implications for sustainable commercial financing of small-scale RE projects in the rural areas of Nigeria. It is divided into five sections. The first section is the introduction which provides background information, next section “Overview of energy and financing needs of rural people” gives the market definition and an overview of energy and financing needs of rural people; this section also reviews energy access, availability and affordability challenges. It also gives an overview of RET financing barriers in Nigeria. The next section gives the possible RETS financing barriers in Nigeria. RET financing options for Nigeria are discussed further in the next section, Conclusion are discussed in the end of paper by stressing the need for an enabling environment for financing RETs.
Keywords: Renewable energy technologies, financing barriers, evaluating financing options, rural areas
Downloads
Published
Issue
Section
License
It is herein agreed that: The copyright to the above-listed unpublished and original article is transferred to STM Journals. This copyright transfer covers the exclusive right to reproduce and distribute the contribution, including reprints, translations, photographic reproductions, microform, electronic form (offline, online), or any other reproductions of similar nature. I/We declare that above manuscript is not published already in part or whole (except in the form of abstract) in any journal or magazine for private or public circulation, and, is not under consideration of publication elsewhere. I/ We warrant(s) that his/her/their contribution is original, except for such excerpts from copyrighted works as may be included with the permission of the copyright holder and author thereof, that it contains no libelous statements, and does not infringe on any copyright, trademark, patent, statutory right, or propriety right of others. I/We will not publish his/her/their above said contribution anywhere else without the prior written permission of the publisher unless it has been changed substantially.
I/We also agree to the authorship of the article in the following order:
Author(s) Name Signature(s)
1. ________________
2. ________________
3. ________________
4. ________________
The author(s) agree to the terms of this Copyright Notice, which will apply to this submission if and when it is published by this journal (comments if any to the editor can be added below).
