World Bank Study has pegged India’s Energy Efficiency Market at Rs. 1.6 Lakh Crores: Piyush Goyal

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Union Minister for State (IC) for Power, Coal, New & Renewable Energy and Mines, Piyush Goyal in Lok Sabha on Thursday in a written reply in Lok Sabha today, said that a World Bank study has pegged India’s Energy Efficiency Market at Rs. 1.6 Lakh Crores.

World Bank’s study titled, ‘Utility Scale DSM Opportunities and Business Models in India’, notes that the renewed Demand Side Management (DSM) market potential is estimated to be 178 billion kWh of energy savings per annum. Goyal said that this figure roughly translates into 18-20 percent of the current levels of all India annual electricity consumption and 150 million tonnes of annual CO2 emissions reduction potential.

Further, the Minister informed that the study has placed 5 States, namely, Andhra Pradesh, Rajasthan, Karnataka, Maharashtra, and Kerala, in terms of their overall energy efficiency implementation readiness.

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The Ministry of Power has fixed energy savings targets for XII Plan period (2012-17) as 60.5 BU (billion units) through various energy efficiency interventions.