Bridging energy demands: hybrid floating solar photovoltaic-hydropower system for sustainable development in emerging economies"- A case of Nigeria

Climate change is a global challenge, particularly affecting emerging economies. Projections indicate a surge in poverty and energy demands by 2030, making sustainable renewable energy systems crucial. This study uniquely addresses the potential of Hybrid Floating Solar Photovoltaic-Hydropower (FPV) systems as a cost-effective solution to mitigate the effects of climate change while meeting escalating energy demands. It focuses on its applicability in Nigeria, an emerging economy. Despite its promise, literature lacks comprehensive discussions on FPV systems. This study examines technical potential, economic viability, and barriers to FPV deployment in Nigerian hydropower reservoirs through a mixed-method approach. Leveraging NREL's System Advisory Model and expert surveys, findings reveal that even modest coverage of reservoirs with FPV could significantly augment electricity generation. A 10% coverage of ten selected hydropower reservoirs could generate an estimated 28.151 GW of solar power, translating to 49.33 TWh of energy annually. Economic assessments, which should instil confidence in the audience, particularly stakeholders and policymakers, demonstrate the profitability of FPV deployment, with Levelized Cost of Energy (LCOE) ranging from 4.26 to 5.45 cents/kWh, and an average Internal Rate of Return (IRR) of 13.04% over a 25-year project lifetime, suggesting its scalability. Moreover, non-technical barriers such as economic, environmental, and regulatory challenges, alongside technical complexities, emerge as obstacles. An implementation framework is proposed to guide policymakers in adopting this technology, emphasising its potential to address energy needs sustainably and foster socio-economic development in emerging economies.