The rooftops of all 19 buildings of Bangladesh University of Engineering and Technology (Buet) now have solar panels that can generate up to 3.5 megawatts during peak hours in the day.

This is the first time a university in Bangladesh has used all of their roofs to generate electricity.

This initiative will allow them to meet around 10 percent of their electricity demand, according to Buet authorities.

"We will be able to reduce at least Tk 12 crore electricity bills in the next 25 years [Tk 50 lakh per year] with this setup. If the electricity bill increases, the savings will also increase," said Prof Abdul Jabbar Khan, pro-vice chancellor of Buet at an event today.

He said roofs in most institutes are restricted for students and remain unused, so it can be a great source of electricity.

It is time to reduce dependency in importing solar panels, he said, adding that they will work to establish local factories to produce the equipment.

Buet VC Prof Satya Prasad Majumder said Buet has set an example in the journey towards clean energy.

"We hope other institutes will follow us," he said, adding that they will now work to improve efficiency of solar panels.

Infrastructure Development Company Limited (IDCOL) has financed the project, meaning Buet authorities have not paid a penny for the installation.

Alamgir Morshed, CEO of IDCOL, said they have been working on financing to ensure 500MW of electricity from renewable sources, including rooftop by 2025.

"More commercial banks should come forward as financing is one of the major challenges here," he added.