Techno-Economic Assessment of Renewable Energy Systems and Their Role in Achieving Sustainable Development Goals (SDGs)

The global shift toward sustainable energy highlights the critical role of renewable energy systems (RES) in addressing climate change, energy insecurity, and economic development. This study conducts a techno-economic assessment of solar photovoltaic (PV), wind, and biomass energy systems in Nigeria, examining their potential contributions to the United Nations Sustainable Development Goals (SDGs). Secondary data from international and national energy agencies, complemented by peer-reviewed literature, were analyzed to evaluate technical feasibility, economic viability, and developmental impact. Findings reveal that solar PV holds the greatest promise due to Nigeria’s high solar irradiance and rapidly declining costs, while wind and biomass provide complementary options in specific regions and rural areas. Levelized cost of electricity (LCOE) analysis indicates that renewable energy technologies are increasingly competitive with fossil fuels, with solar PV and wind now achieving cost parity. Beyond economic viability, renewable energy expansion contributes significantly to SDGs, particularly SDG 7 (Affordable and Clean Energy), SDG 8 (Decent Work and Economic Growth), SDG 11 (Sustainable Cities and Communities), and SDG 13 (Climate Action). The study concludes that renewable energy adoption is both a strategic and practical pathway to sustainable development in Nigeria. However, infrastructural limitations, inconsistent policies, and financing barriers continue to constrain progress. It recommends strengthening regulatory frameworks, promoting innovative financing models, investing in grid and off-grid infrastructure, and fostering public awareness and community participation. This research underscores the urgency of accelerating renewable energy deployment to enhance energy security, stimulate green growth, and position Nigeria to achieve its SDG commitments by 2030.