Bangladesh needs affordable renewable energy now. Let’s talk solutions.

By Oliver Townsend Jun 1, 2024
Bangladesh should move to cost-effective renewable energy: discussion.jpegOrginal image from: https://www.newagebd.net/post/country/236673/bangladesh-should-move-to-cost-effective-renewable-energy-discussion

Transitioning to cost-effective renewable energy sources is crucial for the sustainable and affordable supply of energy. Bangladesh, despite facing acute land scarcity, has the potential to harness renewable energy sources. Energy experts, researchers, and activists emphasized this need during the 2nd Dhaka Renewable Energy and Finance Talk 2024 organized by Change Initiative, a non-government organization, in collaboration with several other organizations.

Renewable Energy Transition for Bangladesh

Environment, forest, and climate change minister Saber Hossain Chowdhury highlighted that although Bangladesh is not a significant emitter of carbon dioxide, transitioning to renewable energy is essential for its own benefit. Currently, the country only produces 4 to 4.5 percent of its total energy from renewable sources while emitting a minimal amount. The government aims to produce 40 percent of electricity from renewable sources by 2041 to ensure energy security, economic growth, and environmental sustainability.

Encouraging Renewable Energy Investment

The executive director of Change Initiative, M Zakir Hossain Khan, stressed that renewable energy is not only economically viable but also a future potential energy source that can help reduce the reliance on fossil fuels. However, the installation cost of renewable energy remains high. Sustainable Renewable Energy Development Authority chairman Munira Sultana acknowledged the cost-effectiveness of renewable energy but highlighted challenges in mobilizing national and international funds for renewable projects.

Removal of Barriers for Renewable Energy

Speakers at the event, including UAE Ambassador to Bangladesh Abdulla Ali Abdulla Khaseif AlHmoudi, Alternative Law Collective’s research director Zain Moulvi, Planning Commission member for industry and energy Md Mustafizur Rahman, and East West University’s business and economics faculty dean AK Enamul Haque, emphasized the importance of removing barriers to facilitate the transition to cost-effective renewable energy in Bangladesh.

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *