Abstract:
Renewable energy plays an important role in strengthening the global energy security as fossil fuel resources are depleting day by day. Approximately 25% of total primary energy supply of Bangladesh comes from renewable sources, especially from biomass, solar, hydro, and wind. Biomass still is the major renewable fuel source. However, the use of biomass is still primitive, in the form of cooking fuel in traditional cookstoves. These resources have greater potential in our energy mix then their current contribution. Detailed research on their availability and potential technologies in the conversion of fuels is necessary. Till now the research on this field is limited and no such major work can be identified which studied the overall impact of the major renewable resources on our energy sector. The main objective of this study is to understand the potential of renewable resources and analyze the impact of utilizing these resources in the context of Bangladesh. Several models had been developed to study utilization of these resources (e.g., biomass, solar, hydro, and wind) in the form of electricity using RETScreen 4 software. With these models, this study critically assessed the financial viability, GHG emission reduction, sensitivity and risk of each project. Different input parameters, for example, capacity, multiple fuel options, and possible technology for power generation are used to compare these models to get the most feasible options. From this study, the 20 MW hydro project at Sangu and 5 kW off-grid solar project were found economically and environmentally promising. 5 kW solar home project can save 2.3 ton of CO2e GHG emission and annual savings with an annual revenue of $1435. Likewise, 20 MW hydro project in Sangu river can reduce 46,967 ton of CO2e GHG emission and annual savings or income can be approximately $4.9 million. However, biomass, large scale solar projects and wind power plants are not economically feasible and hence, need financial support. To make the best use of these resources, some modifications in the national energy policy are essential to deploy these projects which were also included in this study. This research can help the policy planners and decision-makers to understand the prospect of each potential resource of Bangladesh along with its future impact before implementation.
