Power, Energy and Mineral Resources Minister, Iqbal Hasan Mahmud Tuku, has said the country remains significantly behind its regional neighbours in renewable energy development, while pledging sweeping policy support to accelerate the growth of solar power.
Speaking on Thursday at the inaugural ceremony of the “Power, Energy and Infrastructure Expo” at the Bangladesh-China Friendship Conference Centre in Dhaka, the minister said India and Pakistan had already expanded their use of solar and wind energy to reduce dependence on fossil fuels, whereas Bangladesh had lagged behind for many years.
He said Prime Minister Tarique Rahman had instructed the government to prioritise solar and wind power since assuming office.
“Bangladesh is now ready to move forward with solar energy,” Mr Tuku said. “The biggest challenge, however, is policy support.”
The minister revealed that a committee had been formed under the Prime Minister’s direction to accelerate renewable energy development. The committee has already held meetings and finalised the foundations of a new policy framework.
“If the government can provide the right policy support, a revolution in this sector will be possible,” he added.
Drawing comparisons with Bangladesh’s garment industry boom in the 1980s, Mr Tuku said policy measures such as bonded warehouse facilities and back-to-back letters of credit introduced under former President Ziaur Rahman had transformed the country’s apparel sector. Similar incentives for solar power, he argued, could rapidly expand the renewable energy industry.
The minister said the government was working on a simplified framework for importing key solar equipment, including inverters, frames and photovoltaic panels, making it easier for entrepreneurs to install solar systems.
Particular emphasis is also being placed on battery storage technology, he said, noting that electricity generation during daylight hours alone would not be sufficient to meet evening peak demand.
The government is also considering measures to reduce the tax burden on renewable energy investors in an effort to make solar projects more commercially viable.
Mr Tuku said a new renewable energy policy was expected to be finalised within this month and approved by the cabinet by June before being issued as an official government order.
Bangladesh is targeting the generation of 10,000 megawatts of renewable electricity over the next five years, he added.
The minister also outlined plans to expand rooftop solar generation across Dhaka and other cities. Under the proposal, private investors would be able to install solar panels on commercial and residential rooftops and supply electricity directly to building owners. Bills would then be adjusted through a net metering system at the end of each month, while building owners would also receive a share of the revenue.
He said the initiative could create a profitable market for investors while easing pressure on the capital’s electricity supply.
Among those attending the event were Muzaffar Ahmed, chairman of the Sustainable and Renewable Energy Development Authority; Md Shafiul Alam Uzzal, president of the Bangladesh Elevator, Escalator and Lift Importers Association; Mostafa Al Mahmud, president of the Bangladesh Sustainable and Renewable Energy Association; M Azizur Rahman, chairman of the Forum for Energy Reporters Bangladesh (FERB); and Mostafa Kamal, editor of Khaborer Kagoj.
Organisers said the three-day exhibition would continue until Saturday, bringing together around 140 companies and organisations from 12 countries.
The expo is showcasing products, technologies and services related to power, energy, construction and infrastructure development. FERB is serving as the event’s media partner.