Cost Analysis for the Renewable Energy Generation to meet the Energy Security in Bangladesh

Abstract

Renewable energy generation is no more an alternative rather it becomes a choice for the power generation to meet the upcoming energy demand. Considering the non- renewable energy unavailability, as well as, the environmental impact, renewable energy should be the first choice. Most of the power generation in Bangladesh comes from nonrenewable energy and a noticeable amount of energy is imported from abroad. As a developing country, it is not cost-efficient and never ensures energy security. To ensure long-term energy security, it is time to shift power generation from nonrenewable to renewable energy generation. This paper presents an approximate calculation for the renewable power generating plant cost and returning year. The cost calculation is done in the context of Bangladesh.