Solar panels boom amid rising diesel cost, power crisis

The worsening power crisis has created a boom in the solar panel business, OpeOluwani Akintayo writes

The Nigerian solar panel market is currently witnessing a boom owing to the power crisis and high diesel costs, The PUNCH findings have shown.

A solar panel is a device that converts light energy from the sun to electrical energy. Solar panels consist of polyvoltaic cells (PV cells or solar cells) that absorb energy from sun rays and convert it to DC current. It can then be further processed by a power inverter to deliver energy to appliances in a home or business.

With rising costs of diesel to above N600 per litre and the numerous national grid collapses already recorded in the first half of the year, findings showed that Nigerians are currently turning to renewable energies, especially solar panels for succour.