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Report
Bangladesh Solar Energy - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026 - 2031)
Market Report I 2026-02-09 I 95 Pages I Mordor Intelligence
Bangladesh Solar Energy Market Analysis
Bangladesh Solar Energy Market size in 2026 is estimated at 1.57 gigawatt, growing from 2025 value of 1.40 gigawatt with 2031 projections showing 2.79 gigawatt, growing at 12.17% CAGR over 2026-2031.
Continued policy reform, concessional multilateral financing, and swelling LNG import bills are reshaping cost curves in favor of solar, while a shift from government-to-government deals to fully competitive tenders is compressing tariffs toward USD 0.04-0.05 /kWh and widening private-sector access. Chinese module oversupply and higher-efficiency mono-PERC and TOPCon products are pushing turnkey system prices down to USD 600-800/kW for utility plants and USD 1,000-1,200/kW for rooftops, accelerating new build. Corporate buyers in the ready-made garment supply chain are ratcheting up decarbonization clauses that compel factories to displace captive diesel with onsite PV or corporate PPAs, creating a new growth lane for distributed generation. Multilateral development banks (MDBs) have committed more than USD 150 million in 2024 alone for sub-100 MW projects that bypass transmission bottlenecks, further de-risking investment.
Bangladesh Solar Energy Market Trends and Insights
Mandatory Rooftop-Solar Regulation for New Grid Connections
A November 2024 directive requires every new residential, commercial, or industrial grid entrant after July 2025 to install a rooftop PV array scaled to the standing load, instantly creating a guaranteed demand floor. Revised net-metering rules let consumers export 100% of excess generation at avoided-cost tariffs, removing the earlier 70% cap. SREDA estimates 5 GW of rooftop potential could materialize by 2030, though enforcement protocols under the Bangladesh Energy Regulatory Commission are still in formation. Third-party commissioning certificates are likely to become mandatory to curb quality lapses observed in earlier subsidy-driven rollouts.
Rapid Decline in PV Module Prices & BOS Capex
Average import prices for mono-PERC modules sank to USD 0.10-0.12/W in 2024 from USD 0.15-0.18/W a year earlier, undercut by polysilicon oversupply and aggressive Chinese export strategies. Balance-of-system (BOS) equipment now makes up 40-50% of plant cost, pressuring EPC margins while 5% import duty on modules and 15% VAT on inverters remain in force. Utility-scale EPC prices narrowed to USD 600-800/kW, whereas urban rooftops run USD 1,000-1,200/kW due to higher labor intensity and smaller parcel economies. Local assembly plans announced by LONGi Solar in March 2025 could shave another 8-10% off turnkey pricing once production ramps in 2026.
Land Acquisition Bottlenecks for Utility-Scale Parks
Projects above 100 ha require negotiations with hundreds of smallholders under the Land Acquisition Act, inflating timelines by 18-24 months. China Huadian's 160 MW Maheshkhali plant needed 150 ha and spent months clearing environmental hurdles, while CREC's 100 MW Jamalpur build involved over 200 landowners. The new tender regime shifts acquisition risk onto private developers who lack eminent-domain leverage, steering investors toward floating and rooftop options until pre-cleared solar zones are operational post-2026.
Other drivers and restraints analyzed in the detailed report include:
Export-Buyer Decarbonization Pressure on the RMG IndustryRising LNG/Oil Import Bills Inflating Grid TariffsGrid Evacuation Lags Prompting Curtailment Risk
For complete list of drivers and restraints, kindly check the Table Of Contents.
Segment Analysis
Solar photovoltaic accounts for the full Bangladesh solar energy market size today and is on track for a 12.17% CAGR to 2031. Mono-PERC imports held an 84.20% share in 2025, with TOPCon rising to 15.80% as developers chase >23% efficiencies that mitigate land scarcity. CSP remains absent, burdened by ?USD 3,000/kW capex and unviable DNI levels. LONGi's upcoming local factory aims to trim import logistics, helping crystalline PV keep its hold on the Bangladesh solar energy market. Continued dominance of crystalline silicon is supported by bifacial adoption in 20-25% of ground-mount builds, raising yields 10-15% without enlarging footprints. Thin-film and perovskite tandem modules stay relegated to pilot status, pending commercial durability data beyond 2028.
The Bangladesh Solar Energy Market Report is Segmented by Technology (Solar Photovoltaic and Concentrated Solar Power), Grid Type (On-Grid and Off-Grid), and End-User (Utility-Scale, Commercial and Industrial, and Residential). The Market Sizes and Forecasts are Provided in Terms of Installed Capacity (GW).
List of Companies Covered in this Report:
Solarland Bangladesh Co. Ltd Solar Electro Bangladesh Ltd Green Power Ltd Alfanar Group Bangladesh China Renewable Energy Co. (Pvt.) Ltd Joules Power Ltd Symbior Solar Trina Solar Co. Ltd ib vogt GmbH Rahimafrooz Renewable Energy Ltd Gazi Renewable Energy Ltd Spectra Solar Park Ltd ACWA Power Pertamina NRE S. Alam Group Energon Renewables LONGi Solar Technology Co. Ltd Sungrow Power Supply Co. Ltd Canadian Solar Inc. Adani Solar (Adani Green Energy)
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 Introduction
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2 Research Methodology
3 Executive Summary
4 Market Landscape
4.1 Market Overview
4.2 Market Drivers
4.2.1 Mandatory rooftop?solar regulation for new grid connections
4.2.2 Rapid decline in PV module prices & BOS capex
4.2.3 Export-buyer decarbonisation pressure on RMG industry
4.2.4 Rising LNG/oil import bills inflating grid tariffs
4.2.5 Concessional climate-finance inflows via MDBs
4.2.6 Land-scarcity push towards floating & agro-PV pilots
4.3 Market Restraints
4.3.1 Land acquisition bottlenecks for utility-scale parks
4.3.2 Grid evacuation lags prompting curtailment risk
4.3.3 Import duties & VAT on inverters/BOS
4.3.4 Limited solar project bankability for local lenders
4.4 Supply-Chain Analysis
4.5 Regulatory Landscape
4.6 Technological Outlook
4.7 Porter's Five Forces
4.7.1 Threat of New Entrants
4.7.2 Bargaining Power of Suppliers
4.7.3 Bargaining Power of Buyers
4.7.4 Threat of Substitutes
4.7.5 Industry Rivalry
4.8 PESTLE Analysis
5 Market Size & Growth Forecasts
5.1 By Technology
5.1.1 Solar Photovoltaic (PV)
5.1.2 Concentrated Solar Power (CSP)
5.2 By Grid Type
5.2.1 On-Grid
5.2.2 Off-Grid
5.3 By End-User
5.3.1 Utility-Scale
5.3.2 Commercial and Industrial (C&I)
5.3.3 Residential
5.4 By Component (Qualitative Analysis)
5.4.1 Solar Modules/Panels
5.4.2 Inverters (String, Central, Micro)
5.4.3 Mounting and Tracking Systems
5.4.4 Balance-of-System and Electricals
5.4.5 Energy Storage and Hybrid Integration
6 Competitive Landscape
6.1 Market Concentration
6.2 Strategic Moves (M&A, Partnerships, PPAs)
6.3 Market Share Analysis (Market Rank/Share for key companies)
6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Products & Services, and Recent Developments)
6.4.1 Solarland Bangladesh Co. Ltd
6.4.2 Solar Electro Bangladesh Ltd
6.4.3 Green Power Ltd
6.4.4 Alfanar Group
6.4.5 Bangladesh China Renewable Energy Co. (Pvt.) Ltd
6.4.6 Joules Power Ltd
6.4.7 Symbior Solar
6.4.8 Trina Solar Co. Ltd
6.4.9 ib vogt GmbH
6.4.10 Rahimafrooz Renewable Energy Ltd
6.4.11 Gazi Renewable Energy Ltd
6.4.12 Spectra Solar Park Ltd
6.4.13 ACWA Power
6.4.14 Pertamina NRE
6.4.15 S. Alam Group
6.4.16 Energon Renewables
6.4.17 LONGi Solar Technology Co. Ltd
6.4.18 Sungrow Power Supply Co. Ltd
6.4.19 Canadian Solar Inc.
6.4.20 Adani Solar (Adani Green Energy)
7 Market Opportunities & Future Outlook
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