Inadequate funding, poor maintenance, prohibitive cost of installation and training are affecting renewable energy programmes in Nigeria, experts have said.
Head of Energy and Environmental Desk, German Industry and Commerce, Mrs. Barbel Freyer and other experts, spoke at a seminar tagged: “Startups in renewable energy”, organised by the Federal Foreign Office of the Federal Republic of Germany.
She said because of paucity of funds, operators could not access renewable energy materials, adding that banks too were not ready to fund those who want to generate solar, wind, biomass and other renewable energy.
Mrs Freyer urged banks to provide funds for the development of renewable energy system in Nigeria. She said there was a huge market in the country, stressing that the sector’s contributions to the Gross Domestic Product (GDP) would increase soon.
The Council for Renewable Energy (CREN), Projects Implementation Committee’s Chairman Idowu Andrew said consumers were not giving renewable energy enough attention, due to the high cost of maintaining accessories.
According to him, if routine checks and clean-up are not carried out on the devices, the radiation level will reduce and this will lead to defects in the main device.
Idowu said the body conducted a research on renewable energy eight years ago, adding that findings showed that many individiuals cannot afford the cost of owning a renewable energy plant.
“Now, why should I invest about N 7 million in a renewable project, when 20 or 30 people can come together to invest the same amount of money on the project?
‘’Failure to make renewable energy private sector-driven, means that many people will find it difficult to invest in it. So, private investors should be allowed to invest more in renewable energy,‘’ he added.