Low-cost rooftop solar power cuts dependence on grid

FE Team | Published: May 03, 2024 00:30:36

For uninterrupted production, factories rely on alternative sources of electricity in case of loadshedding. But power from generators by burning petroleum is harmful to the environment besides being costly too. Considering this, industrialists now-a-days are shifting to rooftop solar projects as an effective solution to keep factories running.
Md Rezaul Karim, Company Secretary, Hatil Complex Limited, said this while speaking about the rooftop solar project of 2.67 MW peak capacity installed on the rooftop at its Savar factory. Solar power is being produced from February 2023 from this plant installed at a total cost of Tk 142.3 million (14.23 crore), according to a press release.
"Large area of the rooftop of Hatil's factory was lying unused. We thought of using it. We learned that Infrastructure Development Company Limited (IDCOL) provides technical and financial facilities for implementation of solar power projects. The financing of IDCOL is profitable for us. Then we took the initiative to install this project with a loan from IDCOL.," said Rezaul.
Electricity is the lifeline of any industry. When the power supply is interrupted, the production of the factory stops completely, which causes huge losses. Solar power projects can generate large amounts of electricity and are much cheaper than other alternative sources such as generators. At the same time it is environment-friendly. Taking everything into account, Hatil Complex Limited authorities set up a solar power project on the roof of the factory.
"The electricity we get from solar project will last as long as the earth exists. This source of electricity is renewable and clean, which keeps the environment safe," he said. On one hand, the dependence on the national grid is reduced, on the other hand the cost of electricity is significantly down. "We can play a role in protecting the environment," he advocated.
Solar power is becoming one of the most popular sources of renewable energy around the world. Since no fossil fuels are used, solar power generation does not emit carbon, thus causing no harm to the environment, said the entrepreneur.
IDCOL, a state-owned non-bank financial institution in Bangladesh, is at the forefront of financing energy and infrastructure development.