Renewable energy: Prospects and trends in Bangladesh

Abstract

One important goal for any developing country is to establish and provide electric power for its citizens; an endeavor initiated by the Government of Bangladesh many years ago. Renewable energy is a key component for development and Bangladesh has already made significant strides in reaching most of the country's population; both in Urban and Rural areas. The renewable energy projects initiated by the Government are helping Private sector, Non-Government Organizations (NGOs), and Micro-Finance institutions expand the solar energy program, both in terms of Sustainability and Commercial viability. These projects are increasing awareness among consumers and suppliers of the benefits and the correct use of solar home systems. The study, therefore, investigates whether solar business industry should implement a common strategy to position itself in all over the country. The Authors outline the benefits of using solar energy and the possibilities regarding solar energy system in Bangladesh as well as the problems relating to this sector. Data was collected via questionnaire on a systematic random basis. The results indicate significant business potentials of the solar energy sector. As perception towards renewable energy product is being measured in terms of convenience, country made perception and as a whole it will enhance the comfort of the society to some extent but also it will contribute in the economy if proper sales and service is given to the consumers. The authors recommend the initiation of motivational awareness by policy developers of Bangladesh, for the achievement of sustainable growth in the production of renewable energy.