Experts Urge Budget Boost for Renewable Energy
Energy experts, environmental activists, and civil society leaders have called on the government to give the highest priority to the renewable energy sector in the upcoming national budget, citing volatility in global energy markets, rising fossil fuel prices, and the escalating cost of domestic electricity generation.
They argued that increasing budgetary allocations for renewable energy is essential to ensuring a sustainable and secure energy future for Bangladesh. The demand was jointly raised at a pre-budget press conference titled “Global Energy Crisis and Renewable Energy,” held on Wednesday at the Barishal Press Club auditorium.
Speakers at the event highlighted the country’s ongoing energy challenges, noting that soaring international prices of oil, liquefied natural gas (LNG), and coal have significantly increased electricity generation costs. As a result, Bangladesh’s heavy reliance on fossil fuels is placing considerable pressure on the country's foreign exchange reserves.
They also pointed out that the burden of large-scale subsidies and capacity payments to private power plants is gradually weakening the national economy. In the current crisis, they said, a transition toward renewable energy remains the only viable path to ensuring long-term energy security.
Speaking at the press conference, Shubhankar Chakraborty, a member of the NGO Protibesh Unnayan Forum, said, “There is no alternative to renewable energy for ensuring the country’s long-term energy security and managing economic pressures.”
Another member of the organization, Md. Aminur Rahman Khokon, criticized the existing power generation structure, saying that renewable energy still accounts for only a negligible share of Bangladesh’s total electricity production.
He noted that rooftop solar systems, solar irrigation pumps, agrivoltaics, floating solar power projects, and community-based power systems have the potential to make transformative contributions to the country’s energy sector.
Ahead of the national budget for the 2026–27 fiscal year, the speakers presented several specific recommendations to the government.
They called for a substantial increase in budget allocations for renewable energy and demanded the complete withdrawal of all taxes and duties on imported equipment related to the sector, including solar panels and inverters.
They also urged the government to ensure easy access to financing for renewable energy entrepreneurs and provide modern, effective policy support to accelerate sectoral growth.
The experts further recommended that the government avoid investing in new large-scale coal-, oil-, and LNG-based projects and instead redirect those resources toward expanding renewable energy initiatives.
In addition, they emphasized the need to modernize the national power grid, rapidly expand the net metering system, and promote the use of environmentally friendly green energy across industrial and manufacturing sectors.
The pre-budget press conference was attended by local environmental activists, energy experts, students from various educational institutions, young entrepreneurs in the renewable energy sector, representatives of civil society organizations, and members of the media.
/DBTech/KS/EK/OR/
