New Delhi, May 6 (PTI) India saved Rs 89,122 crore through energy efficiency initiatives in 2018-19 and reduced energy intensity by 20 per cent in the fiscal compared to 2005 level, according to a report.
India has set a target to reduce the energy intensity by 33-35 per cent by 2030 compared to 2005 level.
Energy intensity is calculated by the unit of energy required per unit output or GDP and less energy used to produce a product reduces the intensity.
"The energy efficiency initiatives by BEE (Bureau of Energy Efficiency) led to savings worth Rs 89,122 crore in 2018-19," a report released by Power Minister R K Singh on Wednesday.
While unveiling the e-book, Singh said, "We have pledged in COP-21 that we will bring down energy intensity of economy by 33-35 per cent compared to 2005 levels by 2030. Now, with our energy efficiency initiatives we have already reduced the energy intensity of our economy by 20 per cent compared to 2005 levels which is a very good performance indeed.”
The report was prepared by an expert agency PWC Ltd, which was engaged by Bureau of Energy efficiency (BEE) for an independent verification to assess the resultant annual savings in energy as well as CO2 emissions through various initiatives in India.
The findings of the report reflect that implementation of various energy efficiency schemes have led to total electricity savings to the tune of 113.16 Billion Units in 2018-19, which is 9.39 per cent of the net electricity consumption.
Energy savings (electrical + thermal), achieved in the energy consuming sectors are to the tune of 16.54 Mtoe, which is 2.84 per cent of the net total energy consumption (approx..581.60 Mtoe) in 2018-19.
The total energy savings achieved in 2018-19 is 23.73 Mtoe (million Tonne of Oil Equivalent), which is 2.69 per cent of the total primary energy supply (estimated to be 879.23 Mtoe in India) during 2018-19.
This includes both Supply Side and Demand Side sectors of the economy.
Overall, this study has estimated that various energy efficiency measures have translated into savings worth Rs 89,122 crore (approximately) against last year’s (2017-18) savings of Rs 53,627 crore.
These efforts have also contributed in reducing 151.74 Million Tonnes of CO2 (MTCO2) emissions ( in 2018-19) , whereas last year (2017-18) this number was 108 MTCO2.
Since 2017-18, every year Bureau of Energy Efficiency (BEE) appoints a third party expert agency to conduct study for comparing the actual energy consumption due to different energy efficiency schemes, with the estimated energy consumption, had the current energy efficiency measures were not undertaken i.e. counterfactual.
The objective of this study is to evaluate the performance and impact of all the key energy efficiency programmes in India, in terms of total energy saved and the related reduction in the CO2 emissions. PTI KKS MR