Solar power can cut fuel import dependence, save foreign currency: Finance minister

Solar power can reduce Bangladesh's dependence on imported fuels, save valuable foreign currency and strengthen the country's energy independence, Finance and Planning Minister Amir Khosru Mahmud Chowdhury has said.

He was speaking as chief guest at the unveiling of the Walton Solar Ecosystem at Walton Corporate Office in Dhaka today (10 October).

"Solar power is an environmentally friendly source of electricity. What Walton is doing with solar technology is something that is expected to expand across Bangladesh. Over the next one or two years, the country is expected to generate a substantial amount of electricity from solar energy. This will help meet people's electricity needs at lower costs," the minister said.

"Solar energy can be used not only for lighting but also to operate refrigerators, air conditioners, washing machines, ovens and a wide range of other electronic appliances. We hope people across the country will increasingly adopt solar energy solutions," he added.

After the inauguration, the minister toured an exhibition of solar panels, cables, energy storage inverters and batteries, hybrid refrigerators, air conditioners and smart televisions, as well as solar-powered washing machines, cookers, ovens, BLDC fans and LED lights. 

The solar ecosystem combines solar generation, energy storage, supply to the national grid and the operation of household appliances. Walton has set up rooftop and floating solar projects at its factories with a combined capacity of 32 megawatts (MW), which the company says matches the electricity demand of a large district town.

Most of the power is used in Walton's own manufacturing, which helps cut energy costs. The company also supplies about 1,150 megawatt-hours (MWh) of solar electricity to the national grid annually through net metering.

Officials said Walton's hybrid air conditioners, refrigerators and smart televisions can run directly on solar power in sufficient sunlight, without battery storage. When solar output falls short, the system automatically draws the difference from the national grid.

Walton Hi-Tech Industries PLC Chairman S M Shamsul Alam said the initiative would help customers reduce electricity bills, expand renewable energy use and lower carbon emissions.

Vice-Chairman SM Ashraful Alam said it would create new business opportunities and strengthen the company's financial position, creating long-term value for capital market investors.

Managing Director SM Mahbubul Alam said Walton's ambition goes beyond "Made in Bangladesh". "We want to innovate and develop advanced technologies in Bangladesh and demonstrate the country's technological capabilities in the global market," he said.

Directors SM Rezaul Alam, SM Monjurul Alam Ovee and Tahmina Afrose Tanna were also present.