A (I). THE INTERNET OF THINGS IN THE NIGERIAN RENEWABLE ENERGY SECTOR
A (II). REVIEW OF THE FRAMEWORK FOR FINANCING THE NATIONAL MASS METERING PROGRAMME (NMMP)
A(I). THE INTERNET OF THINGS IN THE NIGERIAN RENEWABLE ENERGY SECTOR
The renewable energy share of the global power mix was expected to increase to 22.5% by 2020. However, current reports show that its share had risen to almost 28% in Q1 2020. This presumably indicates that the world is moving gradually away from fossil-fuel generated energy, and towards wind, solar, hydropower, geothermal power, and biomass energy. Renewable Energy (RE) companies have been experiencing substantial global growth over the last couple of years. However, with tremendous scaling comes the challenge of sustaining profits and productivity. Managing these constantly expanding grids requires RE companies to develop methods to optimise their capacities across remote locations. One of such methods in which RE companies can drive efficiency is by incorporating the Internet of Things (IoT) into RE projects.
The IoT describes the network of physical objects that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the Internet. The IoT is a system of interrelated computing devices, mechanical and digital machines, objects or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction. Simply put, IoT are devices and objects connected to the Internet. These products may include smart-watches, glasses, health indicators, home automation i.e. digital lightbulbs, thermostats and fridges, autonomous vehicles, connected ‘smart’ cities, etc, which generate massive data feed into analytics to understand consumer behaviour. However, the IoT requires stable and robust access to broadband internet for effective and efficient utilization. In most rural and remote areas in Nigeria, the broadband internet reception is either non-existent…continue reading