Optimum use of energy to reduce India's import dependence to 21% by 2047
01 March 2014
India's overall import dependence on the energy front can be reduced to 21 per cent by 2047 at its most optimal level against the current level of 31 per cent, provided India takes corrective steps towards pricing that supports energy efficiency and establishes the appropriate regulatory mechanism, according to a study.
This has been projected in the study made under different scenarios, as part of the `India Energy Security Scenarios (IESS) 2047' web site launched on Friday.
IESS 2047, a joint project launched by the Planning Commission in partnership with the Confederation of Indian Industry (CII), shows various combinations of energy demand and possible energy supply pathways available to the country ranging from the least effort to the heroic effort.
Planning Commission has developed the tool in consultation with key stakeholders, including the UK department of energy and climate change, TERI, C-Step and Prayas Energy.
IESS 2047 is an energy scenario building tool which generates the energy demand and supply scenarios for India leading up to the year 2047. The demand and supply scenario for the year 2047 has been projected under four different scenarios:
- Least Effort scenario
- Determined Effort scenario
- Aggressive Effort scenario
- Heroic Effort scenario
As per the projections made, the import dependence would be as high as 84 per cent in case of ''Least Effort'' scenario while the same could improve to 21 per cent in case of ''Heroic Effort'' scenario.
Speaking on the occasion, minister of renewable and non-conventional energy Farooq Abdullah underscored the crucial role that renewable energy cold play in ensuring a lesser import dependence.
The minister advised stakeholders to play a pro-active role. ''Industry would need to innovate while the banks would need to reduce interest rates to promote green energy,'' he said.
Planning Commission deputy chairman Montek Singh Ahluwalia said there was a need to put in place the instruments, including pricing and regulatory measures that support the shift in energy efficiency that we aim to achieve on the demand side.'' However, this would require an integrated approach to energy that has ''remained a constant battle.''
Stressing on the need to strengthen collaborations between India and the UK, Sir James David Bevan KCMG, High Commissioner of UK, said, ''Both India and the UK share similar challenges in the energy domain. There is a need to work together to make both our countries energy secure and prosperous. ''