{"id":1869,"date":"2024-06-09T04:08:08","date_gmt":"2024-06-09T04:08:08","guid":{"rendered":"https:\/\/energytracker.asia\/?p=1869"},"modified":"2024-06-09T01:56:24","modified_gmt":"2024-06-09T01:56:24","slug":"renewable-energy-in-bangladesh-current-trends-and-future-opportunities","status":"publish","type":"post","link":"https:\/\/energytracker.asia\/renewable-energy-in-bangladesh-current-trends-and-future-opportunities\/","title":{"rendered":"Renewable Energy in Bangladesh – Current Trends and Future Opportunities"},"content":{"rendered":"
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Renewable energy in Bangladesh<\/strong> is a sector with vast room for growth. As of 2024, Bangladesh relies mainly on natural gas. Oil and biofuels dominate the rest of the energy mix. However, with its economy booming<\/a>, Bangladesh is now looking for sustainable and more affordable alternatives to help it accommodate the soaring energy demand. In light of the country\u2019s recent
climate change struggles, the focus is no longer on fossil fuels but on green energy.<\/p>\n\n\n\n

Renewable Energy in Bangladesh 2024<\/strong><\/h2>\n\n\n\n

In 1980, only 0.016% of Bangladeshis had electricity. Fast-forward 40 years and the figure has rocketed up to 92%<\/a>. Only a few years ago, Bangladesh sat with countries like Mongolia in finding themselves with electrification levels below 90%.<\/p>\n\n\n\n

Bangladesh’s renewable energy policy journey began in 2008, when the Ministry of Power, Energy and Mineral Resources published their policy guidelines<\/a>. Since then, up until 2022, the sustainable energy niche in Bangladesh has been making sluggish progress. However, the development of renewable energy projects is slowly starting to take off.<\/p>\n\n\n\n

As of 2024, the clean energy capacity in Bangladesh is 1,200 MW. In the country\u2019s total energy mix, this accounts for a renewable energy percentage of around 2%. Solar is responsible for the lion’s share of current renewable energy capacity, with 968 MW. The country generates less than 1% of its electricity from hydropower. These levels are far below the 13% global average.<\/p>\n\n\n\n

While the country has great prospects for accelerating renewable energy deployment, current targets remain weak. Bangladesh\u2019s Integrated Energy and Power Master Plan from 2023 targets 18% clean energy by 2030 and 40% by 2041. This might seem like a notable leap from the current levels. However, there is a caveat. Just 5.7 of the 18% clean energy target by 2030 will be renewable. This will increase to 8.8 of the 40% by 2040. The rest will come from questionable technologies like CCS, ammonia, and hydrogen, which, although fossil fuels by nature, are included in the clean energy targets set by the government.<\/p>\n\n\n\n

This will further lock-in Bangladesh in the major fossil fuel problem it suffers from today. In 2023, the share of fossil fuels stood at 98%, with natural gas accounting for most of it.<\/p>\n\n\n\n

Bangladesh\u2019s Renewable Energy Potential<\/strong><\/h2>\n\n\n\n

Bangladesh’s National Solar Energy Action Plan<\/a> introduced plans to shift its renewable energy policy. This aims for up to 40 giga-watts (GW) to be installed by 2041. This was accompanied by medium roll-our of 25 GW and a business as usual outcome of 8 GW.<\/p>\n\n\n\n

Consequently, its 40 GW target may prove challenging to achieve based on renewable energy capacity in Bangladesh. The latest figures show that renewable energy only makes up 2%<\/a> of the national energy mix. However, if successful, it will be made up of the following:<\/p>\n\n\n\n