Mission Efficiency
Energy efficiency is said to be one of the easiest and most cost-effective climate change mitigation strategies and plays a vital role in reducing energy demand and energy wastage. With an aspiration to become a USD 5 trillion economy and with a revised NDC target, India has unique challenges in providing energy security to its vast population and ensuring energy transition. It becomes important to deliberate on the merits and methods of energy efficiency goals and targets in India. While renewable energy takes up a chunk of the public narrative space for clean energy transitions, there exists an imperative need to create a similar understanding on energy efficiency, especially through economy-wide energy efficiency goals.
As part of the project, The Energy and Resources Institute (TERI) hosted an official side event during the Clean Energy Ministerial (CEM 14) and Mission Innovation (MI8) alongside India’s G20 Presidency. The event took place on the sidelines of the Energy Transitions Working Group (ETWG) of the Sherpa Track of the G20. The panel discussion titled, “An Economy-wide Quantified Goal on Energy Efficiency in India,” was held on July 19th, 2023, from 16:45 – 18:00 hrs at Salao 2, The Grand Hyatt, Goa. Read More: https://www.teriin.org/event/panel-discussion-economy-wide-quantified-goal-energy-efficiency-india
During the event, discussions revolved around the necessity, international practices, methods, and challenges of implementing an economy-wide quantified energy efficiency target for India, aligning with the country’s clean energy and climate objectives. This initiative aimed to contribute to India’s NDC targets set in the Paris Agreement.
Additionally, the event featured the launch of a policy brief emphasizing the significance of an economy-wide energy efficiency target for planning and implementation. The brief reviewed existing metrics and international practices, advocating for a policy-driven approach to achieve predetermined outcomes and drive action-oriented policies.