This paper examines studies to evaluate the economic viability of off-grid photovoltaic PV renewable energy technologies for rural applications in Lafiagi, Kwara State, Nigeria, to meet the government set target. It utilizes the lifecycle cost to estimate a 25 years life-time of an off-grid electrification project and compare with the cost of paying for grid-electrification within the same period. The result shows that such a project is economically viable. The project yield a strong positive pre-tax IRR on equity and a positive pre-tax IRR on assets. A simple payback can only be guaranteed in the project life span. Meanwhile, an equity payback can be completed within 12 years of the project life cycle.

How to Cite
B.B, USMAN, A., Ibrahim,. Retscreen Analysis of Solar Energy Project in Lafiagi, Kwara State, Nigeria. Global Journal of Science Frontier Research, [S.l.], june 2019. ISSN 2249-4626. Available at: <https://journalofscience.org/index.php/GJSFR/article/view/2481>. Date accessed: 07 july 2020.