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Add to Preferred SourcesIndia‘s population of over 1.3 billion makes it the second largest nation in the world, so reducing the country’s greenhouse gas emissions is a sizeable challenge.
As part of its commitments under the UN Framework on the Convention on Climate Change, India plans to reduce its carbon footprint by 33-35 percent from its 2005 levels by 2030. And with the energy sector responsible for over 70 percent of the nation’s emissions, energy efficiency is crucial to the Government of India’s green ambitions.
Today, these ambitions are a step closer to reality, with the Asian Development Bank, UN Environment and partners combining forces on the Creating and Sustaining Markets for Energy Efficiency project, a Global Environment Facility-supported initiative to catalyze new markets for energy-efficient products, such as LED light bulbs.
The project is backing Indian public-private venture Energy Efficiency Services Ltd to expand the market for LED domestic lighting and street lighting while providing the expertise necessary to pilot new technologies such as energy-efficient ceiling fans, tri-generation technologies, and smart metres.
So far, Energy Efficiency Services Ltd have distributed over 300 million LED bulbs, with the aim of replacing 770 million compact fluorescent bulbs in total by March 2019. But the Creating and Sustaining Markets for Energy Efficiency project is also reaching far beyond domestic lighting. By developing viable business models and fronting capital to prove their value, the project is strengthening markets for many other game-changing energy-efficient technologies. The revolving fund is set to include street lighting, five-star-rated ceiling fans, agricultural pumps, smart grids and tri-generation systems. Overall, the project aims to bring about direct energy savings of 38.3 million gigajoules by 2022 and 137.5 million gigajoules by 2032 – equivalent to 23.3 million barrels of oil, reducing India’s carbon footprint by 60 million tons of CO² equivalent.
Original source: UN Environment
Published on 17 September 2018