Abstract
Energy often propels economic development and technological advancement. However, unclean energy tends to achieve the opposite – creating a travesty that renders the environment uninhabitable. As a result, global efforts have been galvanized towards producing renewable energy sources to ensure that the environment provides us with the necessary support for survival. Renewable energy is energy from sources that are naturally replenishing but flow-limited. This specie of energy is virtually inexhaustible in duration but limited in the amount of energy available per unit of time. Thus, conversations around renewable energy bring to the fore the need to utilize energy resources that can be sustained. Sustainability in energy use can be achieved, among other means, through holistic legal and regulatory frameworks. Thus, this paper examines the various renewable energy sources and their prospects in Nigeria, the various policies developed to capture energy from renewable sources, and their impact on energy practice and the macroeconomy.
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