Advancement in electricity is the key ingredient that can actively take part in alleviating poverty and drastically improve the socio-economic status of the people of Bangladesh. The incorporation of renewable energy sources would help the country meet the energy requirement as well as contribute positively towards building a sustainable planet. The paper has extensively discussed the potential aspects of renewable energy resources in Bangladesh and how the Internet of Things can facilitate the implementation of intermittent sources. The regulatory and socio-economic aspects of the renewable energy industry have been explored and sustainable solutions will be discussed to fast-track the process of integrating various renewable energy sources in the power grid to meet the energy demand. The paper discusses the challenges associated with the RE integration in Bangladesh’s power mix and tries to mitigate it through the IoT. Besides that, an RE map for Bangladesh along with prospective power network has also been discussed in this work.