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A Report On The Minister Of Power

Decent Essays

The Minister of Power, Prof. Chinedu Nebo announced Nigeria needs 160,000 MW in order to reach globally accepted standards and satisfy the demand for stable supply for the 170 million Nigerians. According to Bloomberg, Nigeria generates a tenth of the amount of electricity produced by South Africa despite the fact that its population is three times more [1]. Apart from the fact that the costs of solar panels, depends on their power output or watt per hour which can be done by dividing the total electric bill by the amount of hours of usage, the cost of solar panels relies on the budget of an individual, installation costs which consists of the solar panels and balance of they system. Then operational costs, which consists of labor fees, monitoring, repair, insurance, overhead costs, maintenance, inspection fees and permits fees, and then the costs of the individual components of the solar panel system. In America, solar systems meant for homes are usually sized from 3 to 8kW, which costs from $15,000 to $40,000. The solar panels take up 30% of the total costs [2]. To better evaluate the cost of solar panels, we can measure the cost per watt, which indicates the cost in relation to the power output of electricity. The balance of the system, which is part of the installation costs, refers to the components of the solar systems, excluding the solar panels. This includes the inverters, which account for 10% of the total cost, wiring, and the electrical components. Balance of the

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