Solarex Project - Ensuring Economic Development
Access to clean modern day energy options is an gigantic undertaking going through the African continent due to the fact that power is most important for socioeconomic progress and poverty eradication. In these days, 60% to 70% of the Nigerian populace does not have access to electricity. There is no doubt that the present energy challenge afflicting Nigeria will persist except the government diversifies the Energy sources in domestic, commercial, and industrial sectors and adopts new technologies to lessen energy wastages and to save fees.
Energy performs vital role in the economic growth, progress, and development, as well as poverty eradication and protection of any nation.
Main while, uninterrupted energy distribution is an important issue facing nations today. Future economic development crucially relies on the lengthy-term availability of power from sources which are low priced, obtainable, and environmentally pleasant. Security, climate change, and public well being are interrelated with energy. Energy is a principal component in the entire sectors of any country’s economy. The standard of living of a given country may also be directly related to the per capital Energy consumption. The world’s Energy crisis is due to two causes: the speedy populace progress and the development in the standard of living of the entire societies. The per capital Energy consumption is a measure of the per capital revenue and also a measure of the prosperity of a nation.
The Energy drawback, which has engulfed Nigeria for a long time now, has been great and has largely contributed to the incidence of poverty by way of paralyzing industrial and commercial activities. The Council for Renewable power of Nigeria estimates that power outages caused a loss of 126 billion naira (US$ 984.38 million) annually. Aside from the tremendous sales loss, it has additionally resulted in well being hazards due to the exposure to carbon emissions prompted through steady use of ‘Generators’ in specific households and organizations, unemployment, and excessive cost of living leading to a deterioration of living conditions.
The essence of the Solarex energy solution is to create smooth and low cost Energy for household consumption. The intention is to not feed Energy generated inside Solarex into the present grid. The deployment of generated Energy which is retained locally will widely increase the local economic system. The Solarex “Powering Africa Project” will directly aid regional clean and sustainable Energy utilization on the way to eventually provide human resources to be directly engaged within the Solarex project planning, operations, designs and implementation of Solarex Prototypes within the continent.
Investment in solarex technology can improve Energy access , create jobs, expand sales, make stronger trade balance and make contributions to industrial development. The socio-economic advantages of solar are remarkable and its impact can be maximized with sound macro-level policies.
Solar energy will not just be a step towards powering the future but will also be a step towards ‘creating jobs’ in the operations, maintenance and manufacturing sectors . According to the International Renewable Energy Agency (IRENA), the renewable energy job market is booming and is predicted to grow by 24 million jobs by 2030. More so, the IRENA has also predicted that doubling the renewable energy portion in the global energy mix can increase the world’s GDP by $1.3tn. Therefore, a steady switch from the mechanized and capital-intensive fossil fuel technologies to the labor intensive solar industry is the next step to creating more jobs
By eventually reducing our fuel imports, we can improve our trade balance and improve our GDP, as we will no longer be spending huge sums of our foreign exchange reserves. More so, we can be a ‘green economy’ beneficiary by encouraging domestic and foreign investments which can enable manufacturing and boost our services sector.
Lengthy load shedding and power cuts lasting more than 12 hours has caused a huge decline in production. Moreover, reliance on diesel generators and other energy sources are an additional cost that has to be borne. Hence, by going solar, we can easily overcome this energy crisis and work actively towards its industrial development and growth.
Our current dependency on fossil-fuel based power plants is putting us in a compromising situation. Carbon emissions, floods, droughts, heatwaves are just few of the environmental and climate issues we are currently facing. According to the Long-Term Climate Risk-Index (CRI) , Pakistan is ranked 7 with a death toll of 523.1 lives per year due to extreme weather events.
In conclusion, there is no denying that the environmental benefits of going solar are great however, in Pakistan’s case it was the potential economic change that makes solar so lucrative. Solar energy, can be the stimulus for our economic growth and development. Our present energy situation can easily be tackled and we can set ourselves on the road to a reliable and sustainable energy infrastructure.
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