Opinion: Leveraging Tech for Renewable Energy Business growth

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Lande Abudu

At the recently concluded workshop organised by Cleantech Hub, the theme Tech meets Renewable reopened an important conversation within the Renewable Energy space.
Simply put, Renewable energy needs tech and tech needs RE.

As technology improves, costs go down and processes become more effective.

The end user is in a better position to enjoy affordable power, the investor is more assured of a return on their investment.
Energy storage costs that have historically added to overall costs, have reduced with technology improvements in batteries.
The same applies for solar PV cells, the cost of which have gone down significantly in the last decade.

Where previously, last mile distribution for renewable energy products would have been a logistics nightmare, mobile money and remote monitoring has negated that.

With a global trend towards a more gig economy, renewable energy cannot be left out.
Technology creates opportunities – there are millions of talented, young Nigerians with brilliant tech solutions, solutions that could enrich the RE sector.
Increasing digitalisation paves the way for innovative solutions to be found, reducing unemployment rates with its attendant benefits to the economy.

Various technologies such as blockchain that will decentralise data storage and create greater transparency, Artificial Intelligence and the Internet of Things (IoT) for intelligent metering are exciting and innovative and look set to form a large part of doing business in the not-too-distant future.

A revolution of sorts is underway.
What does this mean for renewable energy?

The promise to increase renewable energy in the energy mix is achievable, especially with advancements in technology.
Access to power can be accelerated and the RE market can be sustainably developed.
Technology is the future of the renewable energy sector.

Lande is the Executive Secretary, Renewable Energy Association Of Nigeria, REAN, the umbrella body of Renewable energy companies in Nigeria.
She can be contacted  via info@rean.com.ng

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