Key highlights of the report “Bangladesh’s energy efficiency goals within reach” published by IEEFA are:
-In less than a decade, Bangladesh improved energy efficiency by 13.64%, an annual gain of 1.52%. In FY 2023-24 alone, fossil fuel consumption of 7 million tonnes of oil equivalent (Mtoe) was avoided, slashing import bills by USD3.3 billion.
-This sustained national effort created a framework for energy efficiency. However, after initial gains from FY 2016-17, progress slowed until FY 2020-21 when energy supply disruptions and higher tariffs made efficiency a priority.
-Bangladesh is on course to achieve its energy efficiency targets a year early. With households and industry consuming two-thirds of the country’s energy, these sectors should be the focus for greater energy efficiency gains.
-Proper standards and labels, and passive design features, will ensure optimal energy efficiency in buildings. In industry, efficiency improvements in motors, motor drives and captive power generation, and switching to electric boilers, will slash energy consumption.
Access the report here