ENERGY CONSERVATION AND INVESTMENT IN RENEWABLE ENERGY IN BANGLADESH

This article examines the dual strategies of energy conservation and investment in renewable energy as critical components of a sustainable energy policy for Bangladesh. It analyzes the significant potential for energy conservation and efficiency improvements across various sectors of the Bangladeshi economy, such as industry, transport, and residential buildings. The study then provides an assessment of the status and potential of investment in renewable energy, focusing on solar, wind, and biomass. The research argues that these two "soft path" strategies are often more cost-effective and environmentally friendly than a sole focus on expanding the supply of conventional fossil fuels. The paper identifies the key policy, financial, and technological barriers that have hindered the large-scale adoption of these strategies. The analysis concludes by calling for a major national policy push to promote both energy conservation and renewable energy as central pillars of Bangladesh's quest for energy security.

In the face of a severe and growing energy crisis, Bangladesh must pursue all available options. This paper argues for a much greater focus on two often-neglected strategies: energy conservation and renewable energy. The first part of the study is a detailed analysis of the immense potential for energy conservation, which is often described as the "fifth fuel." It examines the significant energy wastage that occurs in the country's industrial sector, its inefficient power plants, and its residential buildings. The paper argues that a concerted national campaign for energy efficiency, supported by appropriate regulations and incentives, could significantly reduce the growth in energy demand, thereby alleviating the pressure on supply. The second part of the paper focuses on the imperative of scaling up investment in renewable energy. It provides an update on the progress of the country's solar home system program, which had become a global success story in off-grid rural electrification. The study then explores the potential for larger-scale renewable energy projects, such as wind farms and biomass-based power generation. The findings suggest that a combination of demand-side management (conservation) and a supply-side shift towards renewables offers the most sustainable and economically rational path to energy security for Bangladesh. The paper concludes with a set of concrete policy recommendations for the government to create a more supportive ecosystem for both energy efficiency and renewable energy investment.