Sustainable energy solution: Evidence from Bangladesh
Paper Details
Sustainable energy solution: Evidence from Bangladesh
Abstract
Energy consumption is a foundation for sustainable growth and renewable energy is a practical, affordable and environmentally sound energy solution to meet its increasing demand. This study investigates the relationship between energy uses and CO2 emission for the sake of a sustainable energy solution in Bangladesh. The study uses CO2 emissions, fossil fuel energy consumption, renewable energy consumption and GDP data obtained from the World Development Indicators of the World Bank database for the period 1990 to 2014. To compile this secondary data this study use SPSS software. The Pearson correlation coefficient was used in this study to probe into the relationship between fossil fuel consumption, CO2 emission, renewable energy consumption and GDP in a linear form. The Result of this study through the data analysis revealed there was a significant positive correlation between fuel consumptions and CO2 emissions and also CO2 emissions and GDP growth in the Bangladesh. However, there was a significant but negative relationship between renewable energy consumption and CO2 emission and also renewable energy consumption and GDP growth rate. So from the result of this study it was proved that the energy consumption pattern in Bangladesh is highly unsustainable because there was a negative relationship between economic growth and renewable energy consumption, hence, economic growth is increasing but the use of renewable energy is decreasing day by day. Therefore, there is a strong need for the government of Bangladesh to develop specific national and local energy policies to promote renewable energy consumption.
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