Energy conservation could save India Rs 1.24 lakh crore a year

Aiming to save Rs 1.24 lakh crore a year, a group of ministry secretaries made a presentation on transformative ideas in energy-saving to Prime Minister Narendra Modi on 12 January, reports the Hindustan Times.

The ideas include a higher motor vehicle tax on older vehicles, solar powered water pumps for irrigation, incentivising new energy efficient buildings to cover at least 30 per cent of constructions, and increasing the coverage of super-efficient household appliances to 50 per cent of sales. If properly implemented, these measures would save Rs 1.24 lakh crore and conserve 59 billion units of energy a year by 2019, the group told Modi.

On 31 December, Modi had created eight groups of secretaries from different ministries to come up with workable solutions to problems in areas ranging from good governance to employment generation, energy conservation, innovative budgeting and health and education.

The energy conservation group's ideas include SHAKTI or Super-efficient Household Appliances deployment and Knowledge Transformation Initiative, which aims to increase the coverage of super-efficient household appliances such as fans, lights, ACs and refrigerators to 50 per cent of sales from the current 10 per cent, and SEWA or Solar-based Efficient Water Pumps for Agriculture.

SHAKTI would save 23.8 billion units of energy and Rs 8,500 crore a year, while SEWA would do the same for 13 billion units of energy if 30 lakh solar powered water pumps were provided across the country.

A higher motor vehicle tax on old vehicles, the replacement of old heavy duty vehicles and notifying fuel efficiency norms for such vehicles would result in savings of Rs 7,200 crore per year.