Time to focus on Renewable Energy

MD. IRFANUL HAQ BHUYAIN, MANAGING PARTNER, SOLAR HOME CO.

Renewable  Energy

The Ukraine-Russian war has sparked a global energy crisis, straining supply chains and exerting inflationary pressure worldwide. Bangladesh is suffering from a massive energy shortage as gas and oil prices skyrocket, forcing factories to cut back on productive hours due to a debilitating lack of sufficient gas supply.

This means export-oriented industries must contend with declining demand worldwide while managing exorbitant utility prices at home. Utilities make up about 4 percent of a factory’s operational expense, but absolutely no revenue can be generated without it

If Bangladesh’s export-oriented industries are to absorb global supply chain shocks, they cannot do it without the state’s support in providing critical infrastructure. Trade Bodies have requested the government to immediately ensure an uninterrupted gas supply to apparel factories.

In this crisis moment, How can Textile Sector effectively manage its energy security?

There are many ways to mitigate the crises of energy.
1st of all The industry stakeholders need to adopt a positive mindset on foreign investment in solar energy.
2nd the BTMA shall play a vital role in receiving the investment. BTMA shall have a practical concept to adopt foreign investment.
Solar PV energy is green energy at the same time is a low-cost energy industry.
Just needs some wise decisions from stakeholders.