Rooftop solar is currently the most lucrative option for consumers

In an era where energy solutions are rapidly evolving, Omera, a key player under East Coast Group, has consistently been at the forefront of these changes. 

With a strong foundation in the energy sector, including petroleum and cooking oil, the company has now set its sights on renewable energy, specifically rooftop solar panels. This shift reflects a broader commitment to cleaner, more sustainable energy sources, driven by both global trends and local needs. 

In this interview with Masudur Rahim, CEO of Omera Solar, The Business Standard delves into the motivations behind Omera's move into the rooftop solar panel industry, the current state of this sector in Bangladesh, and the company's future plans and prospects in renewable energy.

Omera has many diversified product lines, including petroleum, cooking oil etc. What motivated the company to focus on rooftop solar panels?

Omera, a brand under East Coast Group, has been deeply involved in the energy sector from the start. As energy trends have shifted, Omera has kept pace by focusing on cleaner energy solutions. 

What is the current state of the rooftop solar panel industry in Bangladesh? 

The rooftop solar sector is currently booming since solar energy has become more affordable. As grid electricity price hiked, the global attention to clean energy intensified and due to its innate nature of generating clean energy without acquiring any additional land; rooftop solar is currently the most lucrative option for energy consumers. 

Omera has been assembling and installing solar panels for a while, but does it have any plans to manufacture solar panels in the country? 

In 2011, Omera Solar was launched with their locally assembled solar modules of up to 10 MW annually for the domestic market from 20WP size to 300WP sizes of panels and has evolved into the Solar Rooftop Sector. 

In 2024, the company decided to expand and reinvested into an automated production line for manufacturing high-graded solar PV modules up to 700wp sizes panels of N-type, Mono crystal with a cut cell technology for both the Domestic and International Markets.

What is the scope for solar panel exports for Bangladesh?

If the favourable government policies and customs duty regulations can support the solar panel manufacturing plant for raw material imports, exporting the finished product of manufactured Solar Module can be a highly beneficial business opportunity for Bangladesh. The US, European, UAE and African markets will be open to buy solar panels from Bangladesh. 

Can you describe the lifecycle of your solar panels, from production to disposal?

Import of raw materials (as solar cell wafers are silicon-based and not available in Bangladesh), assembling, testing, and installing, 20-30 years lifetime, where efficiency warranty is more than 25 years and recycling after 30 years.

Who are your primary customers (residential, commercial, industrial)?

Currently Omera Solar is focusing on the commercial and industrial sectors for there is a huge opportunity for rooftop systems at the industrial roofs. However, we also cater to the residential sector as well. 

How much energy can an average rooftop solar panel system generate, and how does this compare to conventional energy sources in terms of carbon emissions?

One MWp Solar Rooftop System can generate up to 11,68,000 kWh/units (Eleven lakh sixty-eight thousand units) of electricity yearly which can dissipate 783 tons of CO2 emissions reduction per year.

What are some of your notable solar projects?

Some of our notable solar projects are MGI with a capacity of 22.69MW, Bitopi at 3.58MW, Apex with 2.85MW, Fakir Fashion and Ananta Group both at 4.5MW, Esquire Group at 1.76MW, Japan Tobacco International with 2.10MW, KDS at 1.70MW, Edison Footwear at 480KW, Dutch-Bangla Packaging and Viyellatex each with 1MW.

What future prospects do you see for solar panels in Bangladesh?

Fossil fuel resources are declining day by day causing conventional electricity costs to increase along with it, so in the future solar could be the answer to both the increasing energy consumption and protecting the environment in Bangladesh. If we can use all the unused rooftops and barren lands to generate solar energy, we can achieve economic benefits along with environmental benefits.