Techno Economic Assessment of a Standalone Solar PV System for Residential Electrification: A Case Study of Fadele Estate, Osogbo, Nigeria

Abstract

Nigeria's persistent electricity supply challenges have left millions of citizens in semi-urban and peri-urban communities dependent on polluting and expensive fossil-fuel-powered generators. These energy supply gaps limit residential productivity, increase carbon footprints, and negatively impact national development. This study investigates the technical and financial feasibility of a standalone solar photovoltaic (PV) system for residential electrification in Fadele Estate, Osogbo, Nigeria. Over a 30-day period, real-time consumption data were gathered using Efergy Engage meters installed across three representative flats. The average daily energy demand was found to be 77.2 kWh, resulting in an annual extrapolated consumption of 28,106 kWh. A 21.06 kWp PV system, supported by a lithium-ion battery bank, was designed and simulated using PVsyst 7.4, considering location-specific meteorological data. Results indicated a 100% solar fraction, 0 kWh unmet load, and performance ratio of 69.76%, while the battery provided two days of energy autonomy. Economic analysis showed an NPV of ?7.5 million, LCOE of ?44.80/kWh, IRR of 9.6%, and a 12.9-year payback period. These results affirm the system's viability for medium-scale Nigerian estates and offer a replicable model for national clean energy expansion.

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