Change in the market demand overtime of Rahimafrooz Solar System and Battery

Abstract

Bangladesh is lagging behind in providing electricity to all the areas due to several issues. According to a survey around 93.5% of its people are out of electricity coverage. For that government has introduced many schemes and one of them is to introduce Solar Home System (SHS) where electricity will be provided to remote areas by using solar system. Bangladesh has one of the largest domestic Soler manufacturers in the country. So, this decision of government is a very positive sign for all the solar panel and battery manufacturer of the country. Rahimafrooz Ltd. is also a very old and well-known battery manufacturer in Bangladesh so it is a great opportunity of them to boost up their business with some major changes. This initiative of the government will open many scopes for the business to expand in new dimensions. If the manufacturers can cope up with the government’s decision in the next 5 years the whole scenario of their business will be completely changed. Governments has recently approved 26 million new solar home project which is a huge market for the companies to capture new customers. Rahimafrooz Renewable Energy Ltd. (RREL) has also changed their business model and introduced solar sector for the existing market demand and the company is also well equipped for fulfilling the target for their product demand. The solar industry has a complete view point and the marketing strategy is also different so to attract more new customers the company has come up with some new policies as well.