How Do Solar Panel Prices in Nigeria Compare to Other Countries?

All over the world, People every day are now moving towards solar energy, This is this case particular for a country like Nigeria where Electricity supply is extremely unreliable, due to the demand for solar energy becoming high in Nigeria, Lots of people are beginning to question

How do solar panel prices in Nigeria compare to those in other countries?

We’ll try to look at the cost differences between solar in Nigeria and in other countries, we’ll also find out reasons for this variations

Why Are Solar Panels are Important in Nigeria

If you are residing in Nigeria, you’ll agree with me that Nigeria is always experiencing frequent power outages, also every month there’s heartbreak of national grid collapses, so it’s becoming increasingly difficult for Nigeria homes and business to depend on the national grid, because of these, most Nigerians are beginning to embrace solar system.

Solar panels are obviously a long term investment that will help you to depend on your own energy as well as reduce how much you pay as electricity bill.

However before you decide to switch completely to solar energy, you have to first of all know the cost of solar panels in Nigeria, then you compare with those abroad to know if it’s cheaper here or over there.

Solar Panel Prices in Nigeria

So many things can affect the price of solar panels in Nigeria, the brand of the panel can affect the price, same as the capacity and the type.

However on an average, the following are how much you can get solar panels in Nigeria

a.Small-scale solar panels (100W – 300W): N30,000 – N120,000

b.Medium-scale solar panels (300W – 600W)N120,000 – N250,000

c.High-capacity solar panels (600W and above): N250,000 – N600,000+

These prices are not always stagnant, they can change especially since they’re always imported.

For you to be able to purchase a complete solar system in Nigeria which will include the Inverters and the batteries with Installation cost also included, you should budget anywhere from N150k to around N3 Million or even more.

Remember the quality of the components and the size of the panel will play a significant role on the amount you are going to purchase. You can explore our home page for all the solar systems available, their prices are clearly stated there too. We deliver and install Nationwide.

1. Solar Panel Prices in the United States

If you want to purchase solar panels in the US, the price falls between $0.70 to around $1 per watt. What this simply means is that buying a 300W panel is going to cost you around $210 to about $300 which when changed to Nigeria naira is about N315,000 to N450,000.

Now the prices of solar panels may seem more expensive in the US than in Nigeria, but you should also know that in the US, the government provides some incentives, there’s also tax credit and many other financing options, all these make solar installation and purchase in the US more affordable in the long run.

2. Solar Panel Prices in China

Obviously China is the world’s largest manufacturer of solar panels, this alone makes the price way lower when compared to other countries.

To purchase a 300W panel in China, it costs around $80 to $150 which is about N120k to N225k. Since Nigeria imports most of its solar panels from China, Nigerians do pay import duties and other shipping costs, this Economically makes the final price way higher than what the manufacturers sell them in China.

3. Solar Panel Prices in India

India is one of the countries that have really affordable solar panels prices in the World. This is largely due to the fact that the Indian government supports the mass production of solar panels as well as different subsidies that make them really affordable to the masses.

The price of a 300W solar panel in India cost around $90 to $160 which is N135,000 to N240,000. The India solar market benefits mainly from their local production and low labor cost, Because of the above, solar is easily available to Businesses and homes in India.

4. Solar Panel Prices in the United Kingdom

In The UK, you can buy solar panels for £0.80 to around £1.20 per Watt. What this simply means is that a 300W panel is going to cost you around £240 to £360 which is about N312k to N468k. You can say that solar panels are cheaper in Nigeria than in the UK, however it may interest you to know that the UK government does provide some solar grants and incentives that help its citizens significantly reduce the cost of solar installation in the country.

Why Are Solar Panels More Expensive in Nigeria?

Obviously solar panels prices in Nigeria seems to be higher than how much they’re being purchased in manufacturing countries like China and India, Here are some reasons why it is so:

1. Importation Costs:

Majority of solar panels in Nigeria are imported From these countries, what this simply means that importers are going to pay extra costs for shipping of the goods, import duties and also clearance fees, these importers will add all these costs up when selling

2. High Exchange Rates

We all know the fluctuating exchange rate of the naira, of course this exchange rate of the Naira against dollar automatically increases the prices of imported goods with solar panels also affected.

3. Lack of Government Subsidies

Unlike most of the countries mentioned above like the UK and the US where their government does provide Solar energy incentives, Nigeria does not really have any strong subsidy program that’s put in place for renewable energy, this is one of the reasons why solar panels tend to be very expensive for consumers.

4. Distribution and Installation Costs

The level of poor infrastructure in the country means the cost of distributing and installing solar panels in Nigeria is always higher than in some of these countries we’ve just mentioned.