Olanrewaju Ogunkunle, the founder and Chief Executive Officer of Revcube Energies has said the firm is set out to make sure that it keeps the light of businesses on in Nigeria by providing alternative sources of power.
The renewable energy sector player made this known at the maiden edition of the Renewable Energy Summit 1.0 with the theme, ‘Empowering the Future of Business with Renewable Energy’.
The event held at the Revocube Energy headquarters in Ikeja GRA, Lagos.
Speaking at the event, Ogunkunle said, “One of the major costs of running businesses in Nigeria is energy and we believe that if the cost of energy can be tackled effectively, businesses will have proper structure for their finance.
“In my office, I don’t bother myself on the cost of electricity, grid collapse or generator. We save a minimum of N5 million monthly by using renewable energy. The total cost we spent was close to N60 million and this equipment will last us for a minimum of 10 years. There are apartments in the building that run AC round the clock. There is no peace bigger than not thinking of grid collapse or fuel.
On the cost of setting up renewable sources of power, Ogunkunle said: “Anybody that can afford a generator in Nigeria can afford a solar system. People don’t get enough information to make the right choice so, there is a solar system for every size. For renewable energy, it’s a new day, a new power, the sun is what is needed.
“An average office in Lagos has a minimum of 24 Air Conditioners (AC) and if someone is using one AC at home and depend on the National Grid, he will be spending at least N50,000 per month. When we connected the first house in GRA, it cost only N16 million and the day they decided to use power from the national grid, they recharged N100,000 but by the next day, it was exhausted. A minimum of 10 litres of diesel per hour to power an apartment of that size so, N14,000 will be spent in one hour.
“Why are people not switching to alternative ways should be the question and not why renewable energy. Imagine everyone in a building that has 20 apartments running generators at once.
“Renewable energy customers recharge their prepaid meters like PHCN customers, and there are houses that rely on solar systems. Maintenance of solar power is cheaper than the maintenance of generators.
Ogunkunle took the opportunity to speak on the slow transition to renewable energy in Nigeria and what can be done.
He said: “One of the reasons is the level of information dissemination. People are not aware that they can spend less using renewable energy.
“Merchants of renewable energy have been doing poor jobs too in the manner they market, telling people that a solar can power a fan and television is not the best way to convey the message. The message should be how much can be saved using renewable energy.”
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Also speaking, Director, National Centre for Energy Efficiency and Conservation, (NCEEC) Olawale Olaniyi Ajibola, said Many people don’t have the knowledge to understand the essence and importance in investing in renewable energy.
“We at the National Centre for Energy Efficiency and Conservation have been sensitising the public on the need to invest in renewable energy.
“Also, many people do not know that there are grants for practitioners in this sector. There’s actual a grant that one can get from the central bank to mitigate the challenges of financing and funding especially to help Original Equipment Manufacturers and service providers like Revocube Energies.”
One of the participants at the summit, the Sales Manager, Gospower Electric Technology, Young Yang, said: “The sun has been a symbol of energy and life since ancient times. In the field of renewable energy, solar energy is known as the most potential green energy because of its clean, safe and endless advantages. Adhering to the concept of green energy, Light the Future, our company is committed to the research and application of solar energy technology, and strives to provide efficient and environmentally friendly energy solutions for users around the world.”
He went further to say, “Our solar products have passed the rigorous tests of international authorities and obtained a number of certifications. This is not only an affirmation of the quality of our products, but also a recognition of the credibility of our brand.”
NIGERIAN TRIBUNE