Properly calibrated projections are therefore essential to shape policies that prioritize energy efficiency

As Bangladesh looks ahead as an economy, there is a need for addressing what has long been an issue for the nation - its increasing demand for energy. However, given the advent of climate change and our vulnerability to it, as projections are outlined for our energy needs, they must be grounded in practicality and data-driven insights, while also having an eye towards sustainability.

With reports suggesting that Bangladesh will require a staggering $42.6 billion investment to achieve its renewable energy targets and fulfill escalating power consumption over the next two decades, and while the nation must absolutely have the ambition to transition into renewable sources, we must, collectively as a nation, also be realistic.

In the past, we have seen numerous projections fall short of reality. As such, these overestimations and errors in calculation have led to policy missteps, resource misallocation, and an overall financial strain on the nation. Given the numerous challenges we continue to face as an economy, we simply do not have the leeway to be making these projection errors.

Properly calibrated projections are therefore essential to shape policies that prioritize energy efficiency, diversified supply, and grid resilience. Thus, while it would not be wise for a climate-vulnerable nation such as ours to be overly reliant on imported fossil fuels, underfunded renewable projects that do not yield expected results could also jeopardize energy security and economic stability.

We expect this and successive administrations to listen to the experts, and remain pro-active to drive sustainable energy planning. We stand at a pivotal moment, and a clear-eyed approach to demand projections is vital to safeguard our energy future. Grounded and well-informed energy demand projections are essential if we are to ensure an inclusive, sustainable, and resilient future.

News Link: Setting realistic energy targets