Set a concrete target first to achieve growth in renewable energy: a study suggests

Bangladesh's renewable energy generation target is not logical, and the sector is also not receiving enough investment to meet this target, according to a recent study.

Achieving the country's renewable energy goals will not be possible without setting a concrete target and ensuring adequate investment in the sector, said Shah Md Ahsan Habib, a professor at the Bangladesh Institute of Bank Management (BIBM).

He made the comment while presenting a paper at a research workshop titled "Renewable energy financing in Bangladesh: alignment with the national policies" organised by the BIBM at its auditorium in Dhaka's Mirpur.

While revealing the outcomes of the study on the same topic, Habib said the government in the Mujib Climate Prosperity Plan aims to meet 40 percent of its energy production target through renewable energy by 2041.

But, the government's Integrated Energy and Power Master Plan 2023 set a lower target of achieving 8.8 percent renewable energy by the same year, he mentioned.

This means that the government has not set any concreate and unified goal to achieve the renewable energy target, he said.

So, the government should set the target first and then plan where the investment will come from, he said.