Abstract
AbstractThe industrial development of a country plays a vital role in its overall progress and is closely tied to its capacity of electricity generation. However, the scarcity of natural resources and increasing costs of fuel in global markets pose significant challenges for developing countries like Bangladesh in managing the rising expenses of electricity generation. Consequently, the government of Bangladesh is exploring alternative energy resources such as solar, wind, hydroelectricity, biomass, and biogas to supplement fossil fuels and optimize electricity generation cost. This paper aims to provide a comprehensive overview of the current status of natural resources, including gas, coal, and oil, which are conventionally used for electricity generation in Bangladesh. It highlights concerns about dwindling resource availability and their impact on the country's energy landscape. Through numerical analysis, it demonstrates the detrimental effects of relying heavily on gas‐based power plants, leading to electricity supply instability. To address the ongoing energy crisis, the paper proposes the adoption of renewable energy sources as a viable solution. Additionally, it also acknowledges the challenges associated with implementing large‐scale renewable projects in distinct areas of the country, such as limited infrastructure, technical constraints, and the need for significant investment. Overcoming these barriers is crucial for achieving widespread utilization of renewable resources. This paper concludes by offering recommendations to overcome these challenges and maximize the contributions of renewable energy in meeting future energy demands. The suggestions include developing robust infrastructure, implementing policy reforms to attract investment, emphasizing research and development, and promoting community engagement in renewable energy initiatives. It also highlights the potential of renewable energy resources in shaping a more secure and sustainable energy future for Bangladesh, emphasizing the importance of electricity generation for socio‐economic development.
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