Why is renewable energy still neglected?

Despite the government's pledge to transition to renewable energy, its actions speak otherwise, as after failing to hit multiple energy targets, we are still heavily dependent on fossil fuels to generate electricity. Aside from intensifying the effects of climate change, this practice has also contributed to our economic crisis. The Centre for Policy Dialogue (CPD) on Wednesday urged for the phasing out of fossil fuel-based power plants. We wholeheartedly stand by this call.

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Why the reluctance to pursue renewables?

According to the CPD, our overwhelming reliance on imported fuel is contributing to a persistent energy crisis, which is hampering power generation and affecting other sectors. Accordingly, it questioned why the government is so hellbent on importing liquefied natural gas (LNG) when it knows the potentials of our gas reserves, which, according to an expert, are among the least explored in the world. Reportedly, Bangladesh Petroleum Corporation and Petrobangla are struggling to pay an outstanding bill of $700 million to global suppliers. Suffice to say, if we continue in this manner, our debt burden will keep getting heavier.

What's more perplexing is that the government, despite knowing the demand for power would not increase as per the projections, kept pushing for increasing the generation capacity, that too through the use of fossil fuel. And now, the country's power generation capacity from renewable sources stands at a measly four percent of the total. It's anyone's guess as to why the government is not focusing on renewable energy, as it is possible to produce around 3,000 MW of electricity from renewable sources with the current structure, according to an expert.

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Is renewable deployment suffering from fossil fuel lock-in?

Bangladesh ranks the lowest among all the South Asian countries in terms of using renewable energy, which points to just how much the government has neglected this sector. This cannot continue. To resolve our current economic crisis and move towards a sustainable future, we have to prioritise renewable energy. As part of short-term measures, CPD has advised abolishing the Quick Enhancement of Electricity and Energy Supply (Special Provision) Act, 2010, which has been incentivising our practices. Through such actions, coupled with good governance, we hope to one day abandon our dependence on fossil fuels.