Taking strides towards decarbonization: The viewpoint of Bangladesh

Over the past two decades, Bangladesh has experienced a rapid increase in access to electricity. Bangladesh has become more dependent on the burning of furnace oil for electricity generation instead of increasing the generation of renewable energy sources. There are a variety of energy resources in the country to achieve a carbon-neutral energy which have not yet been explored to their fullest potential. A lack of proper strategies would lead to the country failing to meet its emissions reduction target, for example lack of energy diversification policy. In order to reduce carbon emission, a country should have a well-defined relationship between economic growth to the energy diversification. In this paper a relationship between economic growth and energy diversification (Energy Mix Concentration Index) has been developed for the year of 200–2020. From this relationship, it is observable that most diversified outcome can be achievable for the next fiscal year by analyzing the past year reports. The of Effort has given in this review to assess the current state of the energy sector in Bangladesh with a specific focus on energy diversification and initiatives for clean energy production. The potential for clean energy sources and technologies to reduce carbon emissions were discussed. The evolution of energy diversification was evaluated using the energy mix concentration index. Providing empirical evidence for energy policies to enhance innovation skills in the renewable energy industry might help Bangladesh achieve long-term development in energy sector.