Sustainable Energy Policy: Challenges and Prospects for the Developing Countries like Bangladesh

Abstract

In the 21st century, developing and emerging economies are facing a dual energy challenge: meeting the requirements of thousands of people who still lack access to basic and modern energy services while concurrently participating in a global transition to clean, low-carbon energy systems. The second challenge is that emissions from developing countries are increasing rapidly and contributing to environmental problems. The scenario is more or less the same among developing countries like Bangladesh. These trends have been positive principally. Sustainable energy policies promote the development of aboriginal renewable-energy industries. They also provide the additional benefit of creating new economic opportunities, reducing countries’ exposure to volatile world energy markets, curbing outlays for imported fuel, and conserving resources for internal investment. There are a number of reasons for optimism, indicating that developing countries can succeed as sustainable energy leaders, even as they make substantial strides toward closing the gap between energy “haves” and “have-nots.” For example, 68% of the total population of Bangladesh had access to electricity in 2014, compared with 47% in 2009. At the same time, the price competitiveness and reliability of renewable energy technologies have continued to improve, especially in rural areas that are not well connected to electricity grids. This paper outlines several policy priorities for developing countries like Bangladesh and other developing nations. None of these policy recommendations will be easy to implement. All will eventually require the active engagement of all sectors.