India’s energy efficiency improved by 1.9% between 2000 and 2023, surpassing the global average of 1.4%, according to a study published in the Reserve Bank of India’s (RBI) monthly bulletin.
India’s performance trailed developed markets like the US and Germany, which saw over 2% growth in energy efficiency.
However, India outperformed its BRICS peers, which recorded an average improvement of 1.62%.
The study noted that India added 706 million tonnes of carbon emissions between 2012 and 2022.
Economic growth contributed over 1,000 million tonnes of carbon emissions during this period.
However, rising energy intensity reduced emissions by 399 million tonnes.
Growth Drives Emissions Despite Efficiency Gains
The study highlighted that while emissions increased due to economic growth, improved energy efficiency helped limit the overall rise.
RBI researchers noted that the emission factor effect will play a greater role in the future as renewables replace fossil fuels and green hydrogen use expands in industries.
Despite gains in decoupling emissions from growth, India needs to strengthen its renewable energy efforts to meet its net zero target.
RBI researchers stressed the need to expand renewable energy capacity. Solar and wind tariffs are now lower than new coal power plants, addressing earlier concerns about high renewable costs.
Despite significant capacity additions, solar and wind accounted for only 2.1% of primary energy in 2022-23. India must accelerate renewable energy adoption to achieve long-term sustainability goals.
Also Read: India Records 19.50 Lakh EV Sales In 2024; EV Market Share Reaches 7.44%
To read more such news, download Bharat Express news apps
