An Alternative Energy Expert, Mr Yemi Kolawole, has called on the Federal Government to grant tax holiday to providers of renewable energy to force down their prices and boost accessibility of the products to many homes.
Kolawole, Chief Executive Officer, Topian Energy Ltd in Lagos, gave the advice on Wednesday in Lagos during an interview with the Nigeria News Agency .
He said that his appeal became necessary because about 80 per cent of the components renewable energy were imported which had made the installation exorbitant to the ordinary Nigerian.
Kolawole said that, although efforts being made by government to improve power supply were commendable, but more efforts should be made to attain sufficient energy supply in the country.
According to him, a 10-year tax holiday for renewable energy producers will force down the prices of the components and make their services affordable to many homes.
He said that a more affordable solar energy source would lessen the number of consumers on the national grid.
“As the government makes effort to boost power supply, all sub-sectors should be carried along to achieve the set goals as it is done in other climes.
“A 10-year tax holiday to producers of alternative energy will quicken the expansion of their businesses and make the product very affordable to majority of Nigerians.
“Solar energy is expensive because about 80 per cent of the components used in assembling solar energy is imported, but a tax holiday will force prices down,” he said.
Kolawole said that the affordability would see the emergence of “smart homes” across the country and reduce the pressure on the national grid for power supply.