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India's energy efficiency market at Rs 1.6 lakh crore

The World Bank has pegged India's energy efficiency market at Rs 1.6 lakh crore, four times the Rs 44,000 crore in 2010 against the backdrop of the success of the government's UJALA scheme"The success of UJALA has reinforced stakeholder confidence in the promise of DSM (demand side management) and re-established the utility DSM market potential from Rs 44,000 crore estimated in 2010 to Rs 1.6 lakh crore by considering the end use energy efficiency opportunities alone," says the World Bank in its report to be unveiled tomorrow.

The report titled 'Utility scale DSM opportunities and business models in India' further stated that the residential end use appliances, agriculture/irrigation pumping and municipal infrastructure are the top three DSM markets contributing to this potential. According to the study, the renewed DSM market potential is envisaged to deliver 178 billion units of electrical energy savings per annum that roughly translates into 18-20 per cent of the current levels of all India annual electricity consumption and 150 million tonnes of annual CO2 emissions reduction potential. Apart from this, demand response, solar photovoltaic (SPV) rooftop systems along with emerging smart grid technologies offer tremendous potential for utility DSM in India, it said. The study suggests adoption of achievable energy savings targets against the identified energy efficiency interventions.