The Nigerian Electricity Regulatory Commission (NERC) has said that it’s targeting 1GW from solar energy generation to national grid in the next five years
According to the commission’s Head of Renewable Energy and Corporate Planning, Engr. Jonathan Okoronkwo, integrating solar energy into the Nigerian energy mix will reduce dependence on fossil fuels stressing that NERC is already working on five regulations that would aid investment into the sub sector.
Okoronkwo, who was speaking at a workshop with the theme Energy Transitions through Solar Energy organized by MEMAN, listed the five regulations: Grid access regulations, Energy efficiency regulations, Net Metering regulations and Energy Concession regulations.
He explained further that the regulatory authority is already canvassing financial incentives, such as tax credits and grants, to attract investment in Solar Energy projects.
ALSO READS:
- Tinubu Picks Fola Adeola to Lead Petroleum Reform Drive
- Shell resumes production at Bonga, completes turnaround maintenance on FPSO
- NDPHC Reaffirms Gender-Friendly Workplace
- Sanwo-Olu inaugurates Lagos Electricity Regulatory Commission’s Board
- NNPC Secures Presidential Approval for $20bn FID on Bonga Deepwater Project
To accelerate investment, Jonathan recommended public-private partnerships (PPPs) to leverage private sector expertise and resources in developing Solar Energy plants.
“Investment in capacity building and research and development (R&D) to support the long term growth of the solar thermal sector. Launch public awareness campaigns to educate citizens about the benefits of solar thermal energy and encourage adoption”.
He said NERC would continue to refine and enforce regulations that support the development of solar Energy and other renewable energy technologies, facilitate the creation of a competitive market for renewable energy by streamlining
licensing processes and providing transparent tariff structures.
as well as engage with international partners to learn from global best practices and adopt them to Nigeria’s context.
