India’s energy requirement is projected to increase by 2.5 times by the year 2047, according to Venu Gopal Mothkoor, Senior Specialist-Energy at NITI Aayog.
He further added that achieving CO2 emission targets necessitates a focus on energy efficiency and demand electrification, which could potentially reduce CO2 emissions by 51 per cent by 2047.
Speaking at a roundtable discussion organized by FICCI (Federation of Indian Chambers of Commerce and Industry) on ‘Doubling the Rate of Energy Efficiency of Indian Industry 2030’ he also underscored the pressing need to address this surge in energy requirements.
Abhay Bakre, DG of the Bureau of Energy Efficiency (BEE), highlighted that energy efficiency offers a cost-effective approach to meeting India’s growing energy demand.
Key areas identified for enhancing energy efficiency in the country include decarbonisation, adoption of clean fuels, digitalization, and promotion of sustainable buildings and smart appliances.
Arijit Sengupta, Director of BEE, outlined the government’s target to reduce 686 million tonnes of CO2 by 2030, with a focus on industries such as steel, cement, pulp & paper, petrochemicals, and aluminium.
Sengupta also mentioned recent amendments to the Energy Conservation Act in 2022 and the government’s plans for the India Carbon Market. He indicated upcoming norms for Green Hydrogen consumption and the development of ‘Carbon Intensity Targets’ to incentivize energy efficiency efforts.
SP Garnaik, Country Representative India (In-Charge), Asia Regional Lead (Energy Efficiency), stressed the importance of creating a conducive environment for technology adoption, financing, and designing national-level programmes focused on waste heat recovery and industrial pump replacement.
The discussions highlighted the urgent need for proactive measures to enhance energy efficiency and address India’s escalating energy demands. With collaborative efforts and strategic interventions, stakeholders aim to guide the nation towards a more sustainable energy future.
