Industry and government should set up energy banks to meet the increasing energy demand in the country, President Ram Nath Kovind has said.
Speaking at the National Energy Conservation Day celebrations, Kovind said, “The spirit of energy conservation is an intrinsic part of the Indian ethos. Such efforts demonstrate the huge potential of energy-saving measures, which can be tapped if all our industrial units and other establishments adopt the schemes initiated by the Government towards conserving energy.”
Also speaking at the event, Minister of State (Independent Charge) for Power and New and Renewable Energy, R K Singh said, “No country can progress without an increase in energy consumption, more so for developing countries. India’s per capita annual energy consumption is 1,100 units, which is five times lower than Europe and 16 times lower than the US.”
Singh said India is committed to reducing the energy intensity of its economic growth by one-third by 2030 and aims to achieve a responsible growth profile. “The country is well on track to surpass its renewable energy (RE) target of 175 GW by 2022 and would comfortably cross 200 GW,” he added.