The World Bank (WB) has expressed its interest in the expansion of renewable energy and power trade in Bangladesh. As reported by this daily on Wednesday, World Bank South Asia Vice President Martin Raiser expressed this interest during a bilateral meeting with State Minister for Power, Energy and Mineral Resources Nasrul Hamid at the secretariat in Dhaka on Tuesday.
Renewable energy has become an important source for power generation in many parts of the world. Having no or little emission -of exhaust and poisonous gases like carbon dioxide, carbon monoxide, sulphur dioxide, most renewable energy sources produce little global warming emissions. Despite the world leaning towards renewable energy to ensure energy security, keeping carbon dioxide emissions at a low level in the face of adverse climate change, the growth of green energy in Bangladesh is slow, to say the least.
The government should formulate
and implement new policies to
increase the production and
consumption of renewable energy
While experts realise that tackling climate change is impossible without reducing greenhouse gas emissions and the reliance on fossil fuels, many say that the transition to renewable is not going to be easy. Reportedly, the government has set a target to add some 1675MW of electricity to the national grid from renewable energy by 2024. But in reality, a maximum of 50 MW of electricity can be added to the national grid. Because, the construction work of most of the power plant projects are going on slowly.
As a part of the government's initiatives to embrace renewable energy, 10 proposed coal-fired power plants with an estimated capacity of 9346 megawatts (MW) of electricity were scrapped last year. It is good to note that the government has revisited its energy policy and such steps will be helpful for safeguarding the environment indeed.
Sustainable and renewable energy is the future of energy sector. The government should formulate and implement new policies to increase the production and consumption of renewable energy. Renewable energy currently contributes approximately 4 per cent to the country's national energy power mix. However, in order to increase it, the government should devise a number of initiatives, including allowing tax-free import of the tools and equipment which are needed for environment-friendly energy production.