Experts Harp on Harnessing Untapped Potentials in Renewable Energy to Boost Economy
Experts in renewable energy have harped on the need to fully harness the available potentials in the sector to boost the nation’s economy. They said this at the Techfine Partners’ training to commemorate the 10th anniversary of Nexgen Energy and Allied Services, in Ibadan on Friday.
According to Wikipedia, renewable energy or green energy is from renewable natural resources that are replenished on a human timescale. The most widely used renewable energy types are solar energy, wind power and hydropower.
A renewable energy expert with Acetronix Ventures, Mr Oluyombi Awojobi, said since being in the business of renewal energy over the last 10 years, there had been more uptake because of epileptic power from the national grid.
According to him, more people are tending toward solar energy, out of all the renewable energy sources, stressing that government would do well to provide more incentives to further enhance uptake of the clean energy.
“Government can come in by subsidising some of these things: inverters, solar panels and batteries because their prices are presently on the high side. If there is a policy or any other means to subsidise these items, people will embrace them more,” he said.
Awojobi said renewable energy would help Nigerians cut the cost of running generating sets by between 30 per cent and 40 per cent in the long run. Also, the Chief Executive Officer, De-sure Rejfresh Technology, Mr Adeniyi Omotosho, described renewable energy as ‘the future Nigeria is looking for’.
Omotosho said that the industry had improved over the years, adding that more successes had been recorded, especially for those who started more than two decades ago.
He called for more investments in the sector by government, saying it should also focus its agenda on improving its capability to solve unemployment problems and improve the livelihoods of Nigerians.
One of the facilitators, Mrs Ibiyemi Ifaturoti, said though there were lots of initiatives on renewable energy, she, however, expressed the regret that they were uncoordinated.
Ifaturoti, a Senior Consultant at Leading Learning Limited, called on government to give more incentives and subsidise renewable energy for those in the industry such as tax reduction, import duties and renewable energy components, among others.
According to her, the more people embrace renewable energy, the better in terms of reduction of pressure on the national grid, as it would help the economy and serve the underserved communities.
Also, the Customer Service Executive, Nexgen Energy, Mrs Oluwakemi Ayekitan, said Nigerians needed an in-depth knowledge, not just information, about renewable energy to be able to harness the enormous opportunities inherent in it.
Ayekitan said there were lots of renewable energy like biogas and other green energy. Though people look at the initial cost, the return on investment surpasses the initial amount that has kept some people from uptaking renewable energy.
“There are lots of advantages in using renewable energy. First, the return on investment is higher than imagined. Second, it supports a healthier and safer planet for the future generations, as it doesn’t emit gases into the atmosphere.
“Also, there is the ease and convenience to use renewable energy system. It is an automated system, the newest technology like the brand we represent in Techfine,” Ayekitan said. Another facilitator and business development expert, Pastor Francis Madojemu, said business owners must ensure they sold quality products to Nigerians.
“A lot of us take advantage of people. We go to China and buy cheaper versions of products; but now, there’s the need to put the customers’ benefits first. It will build us goodwill when the economy picks up,” Madojemu said. Stanbic IBTC Insurance Launches Education Endowment Plan for Children
