COST COMPARISON

With the advent of renewable energy solutions in the energy sector of developed and developing nations, a cost evaluation of the different available options is necessary. In this project, a cost comparison of a 10kW wind and solar PV system was examined. This thesis uses the Life Cycle Costing (LCC) methodology to evaluate the cost of solar and wind power systems for a period of 25 years, to determine which is more cost effective. The cost of installing a 10kW wind turbine system was evaluated to be ₦25,753,268.75 while that of solar PV system for the same amount power was evaluated to be ₦26,068,916.76 for a period of 25 years.