The Feasibility and Impacts of Renewable Energy Auctions in Bangladesh : Lessons Based on Best Practices

Supporting the renewable energy production for environmentally friendly and inclusive economic growth is determined by domestic conditions. The increase in energy auctions demonstrates that a steady, worthwhile atmosphere for investment in this sector is possible, while also conforming with anticipated targets in the energy system in a cost-effective way. Earlier experiences offer lessons for others. The present study provides a roadmap for meeting the carbon-free, green energy production target within the stipulated period while also considering climate targets through a sustainable auctioning scheme. The research outlines the opportunity to design auctions based on qualitative research, the impact of auctions on energy costs and thus the feasibility of suggested auctioning schemes based on country-specific empirical evidence and benefits. The conclusions show that this may result in various advantages for emerging economies relating to technology-neutral site-specific auctions if designed according to state-specific socio-economic conditions