In three years India saved Rs 47,185 crore on higher energy efficiency

According to the Bureau of Energy Efficiency (BEE),India managed to save  Rs 47,185 crore in three years between 2012 and 2015 in the form of energy savings achieved on the back of robust implementation of energy efficiency measures.

Over 400 industries reduced their emissions by 31 MT of CO2, around 2 per cent of annual CO2 emissions, during the first implementation cycle of Perform, Achieve & Trade (PAT) scheme by BEE between 2012 and 2015. The first cycle covered 478 designated industries from 8 energy-intensive sectors – Aluminium, Cement, Chlor-alkali, Fertilizer, Iron and Steel, Pulp and Paper, Textiles and Thermal power plant. Together, these sectors account for around one-third of India’s primary energy consumption.

Perform, Achieve & Trade (PAT) is an initiative under the National Mission on Enhanced Energy Efficiency (NMEEE) under the National Action Plan on Climate Change (NAPCC). It is a market-based mechanism focused on reducing specific energy consumption – energy used per unit of production – in large industries. The scheme facilitates these large, energy-intensive industries to achieve their legal obligation under the Energy Conservation Act of 2001, while also motivating them with market-based incentives to reduce their energy use and surpass their individual energy saving targets.

“The scheme resulted in saving of energy equivalent to 8.67 million tonnes of oil, exceeding the target of 6.86 million tonnes by about 30 per cent. This also resulted in avoided generation of about 5,635 Megawatt, resulting in monetary savings of Rs 37,685 crore. At the same time Rs 9,500 crore have been saved due to reduction in energy consumption,” the power ministry’s arm said in a statement.