Focusing On Energy Efficiency to Gain Energy Security

At a time when India is trying to turn around the energy scenario, focusing on energy efficiency can serve as a well thought plan to reach the targets and to provide power to all. Managing and increasing energy efficiency is one of the most economical way to get energy security while reducing greenhouse gas emissions. Worldwide energy efficiency improvements from year 2000 have shown near about 12% decrease in world’s power consumption. Being effective in this pursuit stands to reduce the energy import expenses of countries, which is a welcoming reprieve to developing and developed countries both, since the price of fossil fuels are estimated to rise.

Worldwide Gains and Success Stories

Japans has made considerable energy efficiency gains from the year 2000 to 2016. Without such gain, statistics suggest that Japan’s oil and gas imports in 2016 would have been 20-23% higher than it was.

According to a recent study done by the American Council, Germany has also made quite the energy transformation through following a comprehensive energy efficiency process.

Ireland has also reduced its carbon emission nearly to 15%/year in last couple of years.

France also offers tax credits to energy efficient businesses. And with the encouragement from the Government, industrial and transport sectors of the country have increased energy efficiency by 19% and 12% respectively.

In 2015, UK announced to reduce its carbon emissions by focusing on renewable energy installation and becoming energy efficient by 80% within 2050.

So, it is fair to state that energy efficiency is regarded as to be a major component to create and maintain a sustainable energy economy while saving the environment. Therefore, it is time for India to follow the same tried and tested path to build its own energy efficient country, saving billions from energy import and building a stronger renewable energy infrastructure.

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Impact of Energy Efficiency in Different Sectors

Residential, Industry, and transport all can have positive effects by following energy efficient paths. For example, energy intensive industries like cement manufacturing and aluminium smelting around the world have received great results in reducing their annual expenses, which can be an advantage in this emerging economy. World has taken this hint and changing their energy consumption habits while using energy saving utilities. And based upon this change, survey estimates suggest that nearly 90% of the indoor lighting would use LEDs and CFLs worldwide by 2022.

Prospects for India

Becoming energy efficient has great positive implications for India. India is facing rising energy demands and taking initiatives towards building industries for socio-economic growth. In this scenario, although following renewable energy installation initiatives can help, the country must depend on regularizing energy efficiency protocols to transform energy production, which can match the consumption levels. India’s Nationally Determined Contributions have also given importance to become energy efficient, considering it a necessity to manage energy demand.

Large industries following Perform Achieve and Trade Scheme (PAT) are seeing positive results in reducing their energy consumption while increasing production in India. Initiatives like Energy Conservation Building Codes and Standards are giving residential and commercial building the opportunity to reduce their energy consumption bills without compromising on the needs.

Pradhan Mantri UJALA Yojana of India is already making strides in leading global LED market. And recent study by The Energy and Resources Institute (TERI) has highlighted that becoming energy efficient in India can help industries like- iron & steel, cement, bricks and other MSMEs, thus allowing the country to build a more efficient, productive, and less expensive industry infrastructure.

The Way Forward

The shift towards solar was a decisive decision by India, and the support, encouragement, and policy initiatives would surely lead the industry to scale great heights. However, to make that happen, India needs to make more supportive arrangements. Becoming energy efficient is one of them. In addition, developed countries are also following the same path thus making it easier for India to make the decisions of maximizing efforts in becoming an energy efficient country.

 

Bibliography:

http://wsds.teriin.org/energy-efficiency-focus.php

http://www.lifehack.org/articles/productivity/10-most-energy-efficient-countries.html

 

 

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Investment in Fossil Fuels Is Investment in a World of Fumes

Renewable energy investment ($ 286 bn) surpassed investment in coal and gas ($ 130 bn) in 2015-16 and estimated to amount to $333 bn in 2018-19. Not just the developed countries, but developing countries like Brazil, Philippines, Mexico, Turkey, Chile, Africa, and India are focusing on renewable energy to phase out fossil fuels. Solar has obviously become the world favourite in a short span of time, showcasing its feasibility, low maintenance, prolonged lifespan and easy to install attributes.

The Looming Threat

It is important to note that oil and gas investment in 2016 was close to $ 522 bn, although it was down from 2015’s investment ($ 595 bn), it was still higher than renewables. Therefore, it is apparent that to push out fossil fuels, which is not just an option but a necessity now, the world would require more effort and aggressive investment initiatives.

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