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Bureau of Energy Efficiency advises Andhra to recognise investment potential 

The carbon markets have been successful in reducing greenhouse gas emissions by setting a limit to emissions and enabling their trading.

Published: 18th April 2022 07:35 AM  |   Last Updated: 18th April 2022 07:35 AM   |  A+A-

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By Express News Service

VIJAYAWADA: The Bureau of Energy Efficiency (BEE) has advised the Andhra Pradesh government to recognise the potential of energy efficiency investments to enhance energy performance in key sectors, reduce carbon emissions, boost economy and create employment. 

In a communication to Energy Secretary B Sreedhar and the Andhra Pradesh State Energy Conservation Mission (APSECM), BEE Director General Abhay Bakre said the Government of India is developing carbon markets to reduce emissions and ill-effects of climate change. 

The carbon markets have been successful in reducing greenhouse gas emissions by setting a limit to emissions and enabling their trading. The BEE has prepared a draft blueprint on the National Carbon Market (NCM) and asked the APECM, the State Designated Agency under the Energy Department, to submit feedback on NCM. This will help create an effective and meaningful marketplace for carbon emissions trading, which facilitates lowering the economic cost of reducing emissions.   

Stating that the energy saving investment potential of the country is expected to be around Rs 10.02 lakh crore by 2031 under the moderate savings scenario, Bakre advised AP and other proactive States like Uttar Pradesh, Madhya Pradesh, Rajasthan, Punjab, and Tamil Nadu to identify energy efficiency investment potential in industrial, domestic, transport and other sectors.

The energy saving potential of the industrial sector is expected to be Rs 5.15 lakh crore, followed by the transport sector with Rs 2.26 lakh crore and the domestic sector with Rs 1.2 lakh crore.The State government has been advised to chalk out a roadmap to reach the energy saving target of 6.68 million tonnes of oil equivalent (MTOE) out of the national targeted energy savings of 150 MTOE by 2030. It has also been asked to go for fast track implementation of energy efficiency and energy conservation programmes in all key sectors.



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