Assuming the simulated household presently spends an average of N30, 000 per month i.e. N1000 per day on diesel or Petrol generator fueling and repair and N8, 000 per Month on PHCN electricity, it means N360, 000 is spent in a year on running the generator and another N100, 000 is spent on epileptic power supply.
If this household decides to finance this investment with a bank loan at 20% interest rate per year and a monthly annuity of N30, 000 (present expenses on Diesel or Petrol Generator), It will take 2 years and 6 months to finance the complete solar package investment.
To estimate the profitability of this Solar investment, we will assume the following;
So from the investment analysis, it means a household that installs solar panel and inverter in Nigeria, will enjoy;
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