'Energy efficient technology can cut oil imports'

India should focus on development and adoption of energy-efficient technologies in order to cut dependence on oil, gas and coal imports, experts say.

"We need to take cognisance of the escalating costs of energy and thereby work towards adopting technologies which will reduce energy consumption and also reduce our dependence on other countries for energy sources such as oil, gas, and coal," said Krishan Dhawan, chief executive officer, Shakti Sustainable Energy Foundation.

Dhawan said energy security and access to energy were among the two major challenges facing the country and focus must be on technologies that could enhance efficiency.

India imports nearly 80 percent of its oil needs. The rising oil imports bill is among the major factors behind the high current account deficit, which hit a record $88.2 billion in the financial year 2012-13.

Shakti Foundation that promotes clean energy recently commissioned an activity to develop a series of compendiums that provide comprehensive information on energy savings options, techno-economic feasibility, future technologies, possible reduction in energy consumption and emissions, and marginal cost abatement curves.

These documents, prepared in association with the Confederation of Indian Industry Green Business Centre (CII-GBC), throws lights on five sub-sectors -- cement, chlor-alkali, iron and steel, pulp and paper , and textiles.

Compendiums were released at the 12th Energy Efficiency Summit organised by the CII in Hyderabad recently.

"This will help designated consumers (industrial plants having energy savings targets) to prepare energy efficiency action plans and achieve and even exceed their energy consumption targets under the perform, achieve and trade (PAT) scheme," Shakti Foundation said in a statement. PAT is a scheme launched by the Government of India to promote energy consumption reduction in Indian industries.

"Apart from favourable governmental policies and regulations, it is important for industries to adopt new technologies as well in the drive to improve our energy efficiency," said Ajay Mathur, director general, Bureau of Energy Efficiency.

He said the PAT scheme, among various other energy efficiency initiatives, was creating demands across sectors for investing in technologies that consume lesser energy while ensuring no compromise on quality.