Renewable Energy

Assessment of solar energy generation potential

A study in Thimphu found that rooftop solar PV systems could generate up to 61 GWh annually, cutting electricity imports by $3.23 million, highlighting solar’s strong potential to complement Bhutan’s hydropower and strengthen energy security.

Financial Econometrics

Modeling and Predicting Stock Market Volatility using ARCHModel

This study applies the ARCH(1) model to forecast stock return volatility for three Bhutanese companies (SVL, BIL, BNB) using 2019–2022 data. Results show strong predictive accuracy, benefiting investors, regulators, and researchers by enhancing investment decisions, market efficiency, and future exploration of ARCH applications beyond the stock market.

Financial Econometrics

Performance of Common Stock Market and Relationship between Common Stock Return and Inflation

This study examines whether Bhutan’s stock returns hedge against inflation, using data from nine companies across banking, insurance, and industry sectors. Bivariate regression analysis shows no hedging effect, revealing a weak, statistically insignificant inverse relationship between nominal stock returns and inflation.

Technology

Blockchain for Public Services: Its Applicability in Bhutan

This report explores blockchain as a secure, decentralized ledger technology with transformative potential in public service delivery. Focusing on Estonia’s “e-Estonia” digital identity system, it also examines global blockchain applications that could inform Bhutan’s future adoption in governance and service delivery.

About Us

The Center for Research (CFR) helps shape sustainable development in Bhutan and beyond by combining science, culture, and local expertise. We use data-driven research, practical analysis, and Bhutan’s Gross National Happiness framework to turn complex challenges into clear, actionable solutions. From climate governance to heritage preservation, we produce high-quality policy briefs, academic articles, and professional reports that meet international standards and support progress across the Himalayan and South Asian region.

Our Team

Our team brings together domestic and international experts with decades of academic and professional experience across diverse fields. From renewable energy development and water resource management to business valuation, cost optimization, and cross-sector research, we provide informed, practical solutions tailored to each project. Beyond technical expertise, our researchers are deeply committed to preserving Bhutan’s cultural heritage, meticulously documenting its unique rituals, customs, and healing traditions to ensure this knowledge is passed on to future generations

Our Services

CFR offers research and consulting services spanning renewable energy, clean technology, water resource management, financial econometrics, public health, and cross-sector policy studies. Our work also includes cultural heritage documentation, Buddhist studies, and advanced data analytics using machine learning for predictive insights. We handle the full research cycle, from design and data collection to analysis, and also provide SEO, and web design services to support sustainable growth and cultural preservation.