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International Journal of
Ecology and Environmental Sciences
ARCHIVES
VOL. 4, ISSUE 3 (2022)
Renewable energy and its impact on economic growth in Bangladesh
Authors
Shamima Akter, Sabiha Binta Hasan, Roksana Akhter
Abstract
Energy is a necessary component of modern civilization and a need for long-term growth. Bangladesh, a developing country where socioeconomic development and energy scarcity have become key issues in recent years. In Bangladesh, fossil fuels are commonly used to generate energy, resulting in increased CO2, NOx, and SOx emissions. The electricity deficit problem in Bangladesh, and the greenhouse impact, can be remedied by generating electricity with renewable energy (solar, biomass, hydropower, and wind). This study examines the impact of Renewable Energy on Economic growth in Bangladesh. The analysis uses annual secondary data from the World Bank, Bangladesh Bureau of Statistics, UNDP from 1990 to 2018. The empirical results reveal that a 1% increase in renewable energy consumption equals a 2.269 % increase in GDP. The result also shows that an increase in population growth of 1 % reduces GDP by 1.8867 % which is significantly related at the 5% level.
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Pages:136-142
How to cite this article:
Shamima Akter, Sabiha Binta Hasan, Roksana Akhter "Renewable energy and its impact on economic growth in Bangladesh". International Journal of Ecology and Environmental Sciences, Vol 4, Issue 3, 2022, Pages 136-142
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