Quantitative Insights into Renewable Energy: A Statistical Perspective on Solar, Wind, and Hydro Energy in Bangladesh

Abstract

Bangladesh is at a turning point in its quest for a more robust and cleaner energy future as the demand for sustainable energy solutions throughout the world grows. To offer thorough insights into the status and potential of renewable energy sources in the context of Bangladesh, this study explores the quantitative elements of these sources, concentrating on solar, wind, and hydro energy. This study examines important metrics including energy output, efficiency, and adoption trends using strong statistical approaches. This study uses a multifaceted method to evaluate the impact and viability of solar, wind, and hydro energy in Bangladesh by combining historical data, present market dynamics, and future estimates. This paper’s objective is to ascertain trends, associations, and variables impacting the expansion of any renewable energy industry through the application of statistical models. The possibilities and difficulties of integrating these technologies into the current energy infrastructure are also covered in the paper. This study also looks at the financial effects of adopting renewable energy, considering things like employment growth, investment trends, and overall economic sustainability. It aims to assist investors, industry stakeholders, and policymakers in making well-informed decisions to hasten Bangladesh’s transition to a more resilient and sustainable energy environment by providing a comparative analysis of these three main renewable energy sources. To sum up, this quantitative study offers insightful information about Bangladesh’s solar, wind, and hydro energy landscape and prospects. It attempts to inform strategic efforts and policy frameworks that will propel the country toward a cleaner, more efficient, and sustainable energy future by fusing statistical analysis with a comprehensive grasp of the energy landscape.