Entrepreneurship in micro, small and medium renewable energy enterprises: A tool for sustainable development in Nigeria.

Abstract

Renewable energies have a huge potential and can provide unlimited supply of relatively clean and most local energy. Its resources can be regenerated or renewed in a relative short time. Renewable energy is closely associated with the concept of sustainable development which implies meeting the needs of the present without compromising the ability of future generations to meet their own needs. Despite the availability of natural resources such as water, sun, wind and others, Nigeria is still passing through a serious energy crisis. There is growing evidence that investments in micro, small and medium renewable energy enterprises have a positive impact on energy situation. The reduction of fossil fuel which is affecting the environment negatively, economic development and energy for all can be made possible if the entrepreneurs invest in renewable energy. The paper discusses renewable energy for sustainable development, renewable energy technologies and applications, entrepreneurial competency needs for renewable energy entrepreneurs, sources for funding renewable energy enterprises, marketing strategies for entrepreneurs and motivation in renewable energy enterprises. It was recommended among others that; there should be more investment in renewable energy technologies, Government at all levels and donors should support entrepreneurs in renewable energy with capital and enabling environment and entrepreneurs should develop market strategies and employ them.