A MULTIDIMENSIONAL ASSESSMENT OF INTANGIBLE VALUE CREATION FROM HOUSEHOLD ADOPTION OF 3.5 KVA STAND-ALONE PV SYSTEMS IN NIGERIA

Small-scale solar photovoltaic (PV) systems are typically justified using financial metrics such as payback period and return on investment. However, this framing underestimates their broader societal value, particularly in regions with unreliable grid electricity and heavy reliance on fossil-fuel generators. This study examines the intangible benefits of adopting a 3.5 kVA stand-alone solar PV system among households and small enterprises in Nigeria. Using a mixed-methods approach combining survey data (n = 150), financial modeling, interviews, and thematic analysis, the study shows that while the system yields net financial savings of ₦5.81 million representing a percentage net saving of 67.7 % over a five-year period, its most transformative impacts are non-financial values such as reduced psychological stress, improved health from cleaner air and noise elimination, enhanced productivity, social prestige, environmental stewardship, and energy autonomy. The findings reframe household solar adoption from a cost-saving technology to a quality-of-life and resilience intervention. The paper proposes an Intangible Solar Value Framework (ISVF) to guide future evaluation of distributed renewable energy systems beyond conventional cost-benefit analysis.