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Enigin News - India Launches Initiatives Promoting Energy Efficiency

India's energy demand will increase at a tremendous rate in the future and with the problems of carbon emissions, poor quality of domestic resources and no easy access to foreign energy resources, the Indian government must take energy efficiency and conservation seriously and bring in stricter regulations in order to achieve the tough goals it has set.

With these concerns in its sights the Indian government has launched a new fund aimed at providing state governments with financial help to promote energy efficiency.

The Energy Conservation Fund (ECF) will be formed by contributions from the state governments which can later request for grants to promote energy conservation programs.

State governments will make an initial contribution of more than $440,000 to the ECF with the prediction that at least 25 of the 28 state governments make the contribution the fund would be around $11 million. Although the initial contribution is low, the contributions are planned to increase as the government brings in stricter energy efficiency regulations and state governments realise the advantages of energy conservation projects.

The government aims at saving 25,000 MW of energy through various energy efficiency initiatives and stricter laws, although they also have financial incentives for solar energy and other renewable energy sector, India realises it must also concentrate on efficient use of energy.

Enigin Distributors across India can help their clients achieve the energy efficiency targets set by national and state governments, as well as benefit from grants and low- or no interest loans available to them from the authorities to become energy efficient using Enigin’s solutions.

India has also come up with a form of Energy Efficiency Trading Scheme, which allows sector-wide trading of energy efficiency certificates.

These would work in a manner similar to the trading carbon credits. The government would identify more than 700 of the most energy intensive sectors and would mandate energy efficiency guidelines for them. Any industry falling short of its energy efficiency target would have purchase energy efficiency certificate from the industries which have achieved their assigned targets. The Indian government plans to launch this program next month and hence hopes to save 10,000 MW power every year.

Sunday 21st March 2010