Assess the Dilemma between the Use of Conventional and Unconventional Energy in Nigerian Shallow Water Oil Fields

This study focused on a techno-economic modelling, simulation, and analysis approach, which was used to determine the techno-economic and environmental sustainability feasibility of Solar PV-BESS as the proposed case and an outright replacement of the existing fossil fuel power generation technology based on the load profile of the given location of study. The result from the technical analysis presented shows that the study area was able to utilize an annual solar radiation at 4.14 kWh/m2/d via horizontal positioning at 15⁰ inclination, which was optimal enough to meet the electrical power demand at 17,520,000kWh annually of the facility when the number of solar panels was increased to deliver 100% fraction of load, most especially in the low sunny days from May to October. Also, the economic analysis presented showed positive NPV and IRR on the proposed case. Although the initial cost of the proposed is quite high as already associated with renewable energy solutions but showed substantial payback results andoverall cost-benefit ratio at 1. The results showed that the proposed case eliminated 100% of the GHG emissions from the base case, with tremendous benefits for revenue generation from emission trading schemes. The study recommends that NUPRC and its stakeholders should form strategic partnerships with existing local solar panel manufacturing collaborators and manufacturers, in other to promote in-country production of solar PVs to reduce the initial cost of the solar projects.