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FG intends to provide five million unserved and underserved with SHS off-grid solutions under the Solar Naija project.
- Consumers will pay a monthly fee of ₦4,000 for SHS for three years to own the systems outrightly.
The federal government has stated that electricity consumers will have an option to pay for and own solar home systems (SHS) planned for installation under the “Solar Naija Component” of the Economic Sustainability Plan (ESP). The ESP began implementation late last year to help revive the Nigerian economy following the disruption and recession caused by the coronavirus pandemic. The government intends to provide five million unserved and underserved with SHS off-grid solutions under the Solar Naija project.
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Consumers interested in owning a SolarHome Systems unit will have an option of paying a monthly fee of ₦4,000 for a total period of three years, after which they outrightly own the solar panels. This means consumers would pay ₦144,000 for the systems. This payment structure was disclosed from the Office of the Vice President, who is in charge of the Economic Sustainability Plan (ESP). No alternative payment options were made known.
The World Bank is financing the off-grid project via some commercial banks, including UBA, Sterling Bank, First Bank and Fidelity Bank. Project implementation will be executed by the Rural Electrification Agency (REA).
According to a statement from the Vice President’s office, the government indicates that there is a bit of interest already from international and local players across the off-grid solar value chain. The vice President’s office noted that the Solar Home System project was designed to be a game-changer in the renewable energy space. The statement notes that the programme will provide off-grid power and enable the development of local assembly, manufacture, and even equipment maintenance capacity.