GBF 2015 Theme: Sustainable Energy for all – SE4All
National energy consumption of India is fourth largest after China, USA and Russia. But unlike the first three, India has limited fossil fuel reserves. With 17% of world’s population, India has ~5% of the primary fossil fuels. Today India imports 43% of its energy requirements. This is in spite of the fact that India’s per capita energy consumption is about a fifth that of developed nations. Additionally, India’s population continues to rise and in fifteen short years India will become world’s most populous country. Both these factors exacerbate India’s energy balance and by 2030, India will have to import 53% of its energy requirements.
From another perspective, crude oil is the single largest import drain on India’s finances. In 2013-14 India imported US$182 billion worth of crude oil, of which US$65 billion worth of refined products were exported. India’s trade deficit in the same year was US$140 billion, of which petroleum product’s share was US$117 billion, or 84%!
- Development and promotion of Systems, solutions and processes for (mass) production and supply of sustainable / Renewable energy.
- Development of eco-systems for products & services for improving energy conservation and efficiency.
- Promotion of processes, systems and tools for improving energy access to all categories of population, e.g., rural, urban and industrial.
Another big challenge is making energy available to the entire population. Even today 40% of the rural households lack electricity. A daunting challenge is making energy available to India’s vast and widely spread population at affordable prices. This will not only require committed and sustained efforts but also distributed solutions to widely spread population. This would require involvement by multiple stakeholders: Innovators, mass producers, policy-makers, regulators, service providers, private companies, entrepreneurs, investors, academia and financiers, to name a few.
The challenge for India is to bridge the gap between the shortage of supply and the “longage” of demand. Projected energy demand with India’s limited fossil reserves is unsustainable. Energy SIG considers that there are great challenges and opportunities in the Indian energy sector. The GBF is a forum that provides a platform for all the stakeholders of IITB to deliberate, select and activate business opportunities while contributing to providing practical solutions for addressing nations energy challenges. This would require the GBF to narrow down its focus on a few areas to ensure / deliver perceptible results in a short time frame.
What is the remedy for India’s energy problem? There needs to be a paradigm shift. India has to have an increased share of renewables and energy efficiency.
There are several different types of renewable energy:
- Solar – PV & Thermal
- Bio energy – Biomass & Biogas
- Thermal – Ocean & Geo
- Ocean – Waves & Tidal
- Fossil fuels – (efficiency & conservation)
Energy SIG will work synergistically with other SIGs such as ‘Make in India’, ‘Environment + Water’ and ‘Education’. The Energy SIG will become active advocacy and articulate and enable roadmaps and implementation strategies for the energy sector.
For more information, kindly refer to the following links.
REN India ’15 – By Prof. Rangan Banerjee
India Towards Energy Independence 2030 – By McKinsey