Renewable power to account for 20% of supplies by 2030: PM

The government has set a target to increase the share of renewable power in total electricity generation to 20% by 2030 – in a bid to reduce import reliance and meet growing demand, Prime Minister Tarique Rahman told the parliament on Wednesday.

The government has identified renewable energy as the priority source for reducing dependency on imported fossil fuel, the premier added in response to a question from Meherpur-1 MP Md Tajuddin Khan.

To this end, the government also plans to increase renewable supply to 30% by 2040, he said.

The government also plans to gradually replace diesel with solar power in the country’s irrigation systems within the next five years, he added.

The government has already rolled out incentives and tax breaks to encourage the setting up of solar installations across the country. The government has set a 20% profit margin with a purchasing price of Tk10.50 for supplying excess power from rooftop solar systems to the national grid, Tarique said.

The country aims to produce 5,500-megawatt electricity from rooftop solar systems, 4,500-megawatt from ground-based solar systems, and 450-550-megawatt electricity from other renewable sources including hydropower, wind power, waste and others.