What is the Price of Solar Panels in Nigeria 2024

How much should solar panels cost your business?

It seems like solar panels are incredibly popular right now - especially as everyone realizes solar is cheaper than current fuel prices.  But as you look through the options, its important to know how much you should be paying for panels in this current market and which solar panel brands you should resort to. In this article, we will explore the current prices of solar panels based on watt peak ratings and present an overview of the top brands available in the Nigerian market today.  And when you are ready to make a choice, know that Earthbond can help you not just choose but get financing for the right solution for your business.

Solar Panel Pricing in Nigeria - 2024 Overview

Solar panel prices in Nigeria vary depending on several factors, including technology advancements, manufacturing costs, brand reputation, and market demand. Please note that the prices mentioned here are approximate and may vary based on location, installation requirements, and other factors.

Top Solar Panel Brands in Nigeria

Renogy

Renogy is a leading solar panel brand known for its durability and efficiency. With a strong presence in Nigeria. They offer a wide range of panels suitable for residential and commercial applications. Their panels come with high-quality materials and advanced technology, ensuring reliable performance even in challenging weather conditions. The price range for Renogy solar panels in Nigeria is approximately ₦350 - ₦363 per watt.

Price per Watt: ₦350 - ₦363
Advantages

• Renowned for durability and efficiency
• Reliable performance in diverse weather conditions
• Wide range of panels for residential and commercial applications
• Excellent customer support and after-sales service
• Strong focus on sustainable manufacturing practices
  

Disadvantages:

• Relatively higher price range compared to some other brands
• Limited availability of larger panel sizes for commercial projects
• Less established presence in remote areas, impacting accessibility for customers in rural regions
  

Get the Renogy quote

Canadian Solar

Canadian Solar is a reputable brand that offers high-quality solar panels with a strong warranty. The company has a robust presence in Nigeria and is trusted for its reliable and efficient solutions. Canadian Solar panels are designed to withstand harsh environmental conditions, making them a popular choice among Nigerian customers. The price range for Canadian Solar panels in Nigeria is approximately ₦390 - ₦433 per watt.

Price per Watt: ₦390 - ₦433
Advantages

• High-quality panels with a strong warranty
• Proven track record of reliability and longevity
• Exceptional performance in high-temperature environments
• Extensive network of distributors and service centers
• Continuous research and development for cutting-edge solar technology
  

Disadvantages:

• Slightly higher price range compared to some other brands
• Limited customization options for specific project requirements
• Availability of certain panel models may vary, leading to potential supply constraints
  

Get the Canadian Solar quote

Trina Solar

Trina Solar is a globally recognized solar panel manufacturer known for its reliable and cost-effective solutions. Their panels offer excellent performance and are backed by strong warranties. Trina Solar's presence in Nigeria ensures customers have access to their wide range of panels, catering to both residential and commercial needs. The price range for Trina Solar panels in Nigeria is approximately ₦356 - ₦360 per watt.

Price per Watt: ₦356 - ₦360
Advantages

• Renowned for their reliable and cost-effective solutions
• Excellent price-to-performance ratio
• Industry-leading efficiency and power output
• Comprehensive product portfolio to suit various installation sizes and types
• Strong global brand presence and established reputation
  

Disadvantages:

• Availability of certain high-efficiency models may be limited
• Customer support and service response times can vary in certain regions
• Potential variations in panel quality across different manufacturing facilities
  

Get the Trina Solar quote

Jinko Solar

Jinko Solar is a globally recognized solar panel brand that has gained popularity in Nigeria due to its competitive pricing. The company offers a wide range of high-quality panels suitable for various applications. Their panels are known for their efficiency and durability, making them a reliable choice for Nigerian households and businesses. With advanced manufacturing processes and strict quality control measures, Jinko Solar ensures that its panels deliver excellent performance even in challenging environments. The price range for Jinko Solar panels in Nigeria is approximately  ₦350 - ₦370 per watt.

Price per Watt:  ₦350 - ₦370
Advantages

• Globally recognized brand with competitive pricing
• High-quality panels with reliable performance
• Efficient energy conversion and power output
• Broad product range catering to different customer needs
• Extensive distribution network ensuring wider availability
  

Disadvantages:

• Some models may have slightly lower durability compared to premium brands
• Limited availability of specialized panels for specific applications
• Customer service response times may vary across regions
• Availability of specific models can be affected by global supply chain fluctuations
  

Get the Jinko Solar quote

LONGi Solar

LONGi Solar is a renowned solar panel brand known for its highly efficient panels and excellent performance. With a focus on continuous innovation, they have developed advanced technologies to maximize the conversion of light from the sun into electricity. Their panels are designed to withstand harsh weather conditions and deliver reliable power output over the long term. LONGi Solar's commitment to quality and performance has made them a trusted choice among Nigerian consumers. The price range for LONGi Solar panels in Nigeria is approximately ₦290 - ₦320 per watt.

Price per Watt: ₦290 - ₦320
Advantages

• Highly efficient panels with excellent performance
• Exceptional low-light and high-temperature performance
• Stringent quality control measures for reliable products
• Advanced technology and continuous innovation
• Strong commitment to sustainable manufacturing practices
  

Disadvantages:

• Higher price range compared to some other brands
• Limited availability of smaller panel sizes for residential projects
• Availability of certain high-efficiency models may be limited
• Customer service response times can vary in certain regions
  

Get the LONGi Solar quote

JA Solar

JA Solar is a well-established solar panel manufacturer known for producing reliable and durable solar modules. Their panels are designed to deliver optimal performance even in low-light conditions, making them suitable for areas with varying weather patterns. Their panels undergo rigorous testing to ensure quality and longevity. With its strong track record and commitment to customer satisfaction, JA Solar has earned a reputation for being a trusted brand in the Nigerian market. The price range for JA Solar panels is approximately  ₦400 - ₦450 per watt.

Price per Watt:  ₦400 - ₦450
Advantages

• Known for their reliable and durable solar modules
  Strong performance even in challenging environmental conditions
• Wide range of panels for residential and commercial applications
• Continuous focus on research and development for enhanced efficiency
• Established brand reputation in the solar industry
  

Disadvantages:

• Slightly higher price range compared to some other brands
• Limited availability of specialized panels for specific applications
• Customer service response times may vary across regions
• Availability of specific models can be affected by global supply chain fluctuations
  

Get the JA Solar quote

Risen Energy

Risen Energy is a solar panel brand that offers a wide range of panels suitable for the Nigerian market. They provide diverse options to cater to different energy needs, from residential to commercial applications. Their panels are known for their efficiency and reliability, delivering consistent performance under various environmental conditions. The company emphasizes sustainability in its manufacturing processes, ensuring that its panels have a minimal carbon footprint. With competitive pricing and a commitment to quality, Risen Energy has become a popular choice among Nigerian consumers. The price range for Risen Energy panels is approximately ₦400 - ₦450 per watt.

Price per Watt: ₦400 - ₦450
Advantages

• Offers a wide range of solar panels suitable for Nigeria
• Competitive pricing with good value for money
• Strong focus on product performance and reliability
• Dedicated technical support for customers
• Extensive industry experience and established presence in multiple markets

Disadvantages:

• Brand recognition may be relatively lower compared to some other well-established brands
• Limited availability of certain high-power models
• Availability of customer service centers may be limited in certain regions
• Availability of specific models can be affected by global supply chain fluctuations
  

Get the Risen Energy quote

Suntech Power

Suntech Power is an innovative solar panel brand that designs panels for high performance. They utilize cutting-edge technologies and materials to optimize energy conversion and enhance overall efficiency. Suntech Power panels are known for their durability and ability to withstand extreme weather conditions. The company's commitment to research and development has resulted in advanced solar solutions that meet the energy demands of Nigerian households and businesses. With its focus on innovation, Suntech Power has established itself as a trusted brand in the Nigerian solar market. The price range for one of their panels in Nigeria is approximately ₦430 - ₦480 per watt.

Price per Watt: ₦430 - ₦480
Advantages

• Innovative solar panels designed for high performance
• Wide selection of panels for various applications
• Strong commitment to technological advancements
• Established global presence and brand reputation
• Robust warranty terms for customer satisfaction
  

Disadvantages:

• Relatively higher price range compared to some other brands
• Limited availability of specialized panels for specific applications
• Availability of customer service centers may vary across regions
• Availability of specific models can be affected by global supply chain fluctuations
  

Get the Suntech Power quote

LG Solar

LG Solar is a leading solar panel brand known for its sleek designs and impressive warranties. Their panels combine aesthetics with functionality, making them an attractive choice for customers who value both performance and appearance. LG Solar panels are known for their efficiency and durability, delivering reliable power output over the long term. The company provides comprehensive warranties, ensuring peace of mind for Nigerian consumers. With their commitment to quality and customer satisfaction, they have gained a strong presence in the Nigerian solar panel market. The price range for LG Solar panels in Nigeria is approximately ₦430 - ₦480 per watt.

Price per Watt: ₦430 - ₦480
Advantages

• Known for their sleek designs and impressive warranties
• High-quality panels with reliable performance
• Strong focus on aesthetic integration for residential installations
• Comprehensive customer support and after-sales service
• Established brand reputation and global market presence
  

Disadvantages:

• Higher price range compared to some other brands
• Limited availability of certain high-power models
• Availability of customer service centers may be limited in certain regions
• Availability of specific models can be affected by global supply chain fluctuations
  

Get the LG Solar quote

REC Solar

REC Solar is a brand that offers premium solar panels with exceptional efficiency. Their panels are designed to deliver high performance and maximize energy production, making them suitable for demanding applications. REC Solar panels are known for their robust construction and ability to withstand harsh weather conditions. The company places a strong emphasis on sustainability, ensuring that its panels have a low environmental impact throughout their lifecycle. With its focus on quality and performance, REC Solar has established itself as a trusted choice among Nigerian consumers. The price range for REC Solar panels in Nigeria is approximately ₦383 - ₦433 per watt.

Price per Watt: ₦383 - ₦433
Advantages

• Offers premium solar panels with exceptional efficiency
  
• Strong emphasis on product reliability and performance
• Excellent low-light and high-temperature performance
• High-quality manufacturing standards and stringent testing processes
• Established global presence and recognized brand
  

Disadvantages:

• Higher price range compared to some other brands
• Limited availability of specialized panels for specific applications
• Availability of customer service centers may vary across regions
• Availability of specific models can be affected by global supply chain fluctuations
  

Get the REC Solar quote

Factors Influencing Solar Panel Prices

Several factors contribute to the pricing dynamics of solar panels in Nigeria:
Watt Peak: The watt peak (Wp) rating indicates the power output of a solar panel. Panels with higher wattage typically come at a higher price due to their increased efficiency and electricity generation capacity.

Brand Reputation: Established brands often command higher prices due to their reputation, reliability, and customer support. Lesser-known or new entrants in the market may offer more competitive pricing to establish themselves.

Installation and Additional Components: In addition to the cost of solar panels, it's important to consider installation expenses, including mounting structures, inverters, batteries, and wiring. These additional components contribute to the overall cost of a solar energy system.

Government Policies and Incentives: Government initiatives, such as tax credits, subsidies, and net metering, can significantly impact the cost of installing solar panels. Stay informed about the current policies to leverage any available incentives and reduce the upfront investment.

Currency Fluctuations:  Aside from Auxano Solar, most solar panels sold in Nigeria are imported from abroad and so are affected by currency devaluation of the Naira against USD, CAD, CNY and EURO.  Nonetheless, these currency effects are still less than those experienced by the petrol and diesel sector.  

Conclusion

As solar energy gains traction in Nigeria, it's crucial to stay informed about the pricing trends and available brands in the market. The table provided highlights approximate prices of solar panels based on watt peak ratings, offering a glimpse into the cost dynamics in 2023. However, prices may vary, and it's advisable to consult with reputable solar installers or professionals for the most accurate and up-to-date information.
Investing in solar panels not only helps reduce reliance on fossil fuels but also offers long-term financial benefits through energy savings. Embrace the power of solar energy and contribute to a greener and more sustainable future for Nigeria.