More Nigerians to Move Away From National Grid as Solar Panel Factory Opens in Lagos

• LPV Technologies has launched a new solar panel factory in Lagos to boost local production and reduce reliance on imports
• The company believes locally made solar panels, combined with other energy sources like gas, will help tackle Nigeria’s electricity shortages
• The factory features advanced automation and quality control, with a current capacity of 100 megawatts and plans for expansion

Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology, Banking and the Economy.

LPV Technologies, a Nigerian solar energy company, has opened a new solar panel factory in Lagos. The company is urging the government to ban the importation of solar panels to encourage local production.

Nigeria struggles with energy shortages, as only about 60% of the country has access to electricity. Solar power is seen as a good alternative, especially for rural areas.

LPV’s new factory to boost Nigeria’s solar industry

Yinka Adelodun, the Executive Director of LPV Technologies, said the new facility was built to tackle major problems in the renewable energy sector, such as supply chain delays and over-reliance on imported panels.

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The factory is located in Ikotun, Lagos, near the Synagogue Church of All Nations, founded by the late Pastor T.B. Joshua. The company recently launched the facility and gave a tour to showcase its features.

Construction of the factory started nearly two years ago as part of the company’s goal to expand solar energy use in Nigeria. LPV Technologies believes that producing solar panels locally and combining solar power with other energy sources like gas is the best way to achieve reliable electricity.

According to Punch, Adelodun said that while many people install solar panels as a short-term fix, the real solution lies in using both solar and gas to power the economy sustainably.

The government has introduced policies, such as the National Renewable Energy and Energy Efficiency Policy and the National Renewable Energy Action Plan, to encourage the use of solar energy.

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Public-private partnerships and international collaborations are also helping to develop solar projects.

Recently, the federal government announced plans to stop the importation of solar panels to boost local manufacturing and support Nigeria’s shift to renewable energy.

The Ministry of Finance, the Nigerian Consumer Credit Corporation (CREDICORP), and the Presidential Initiative on Compressed Natural Gas Ltd also launched the Credit Access for Light and Mobility Fund to offer reasonably priced credit for solar energy adoption and car conversions to compressed natural gas.

Challenges in the sector

Adelodun explained that one of the main challenges in the industry is the long wait for imported solar panels, which often get delayed at customs or face storage problems.

By producing panels locally, the company can control the supply chain and ensure high-quality standards.

During the tour, company officials demonstrated the manufacturing process, highlighting the use of advanced automation and strict quality control measures to meet international standards.

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LPV Technologies' production line uses PERC technology and can produce panels ranging from 550-watt to 720-watt capacities. The factory currently has a capacity of 100 megawatts, with plans to expand as demand increases.

Juwon Solarin, the Head of Business Development and Marketing, said the company is working to grow its distribution network and attract more partners to promote locally made solar panels.

Affordable solar panels as game-changer

Affordable solar panels can be a game-changer for Nigerians struggling with the country’s unreliable national grid.

With frequent blackouts and grid collapses, many households and businesses depend on expensive diesel and petrol generators.

However, if solar panels become more affordable, more Nigerians can generate their own electricity, reducing dependence on the unstable grid. This would improve productivity, cut energy costs, and boost economic growth.

The government should support local solar manufacturing and offer incentives to make solar systems more accessible.

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Access Bank launches solar energy funding plan

Access Bank has introduced a solar energy funding plan to improve sustainable power in Nigeria’s healthcare sector.

According to Legit.ng, the bank launched the "Solar for Health" project to help hospitals, laboratories, and other medical facilities reduce their high dependence on fossil fuels.

The initiative provides affordable financing options for installing solar energy systems.

Source: Legit.ng