'Demand creation must to reduce costs of resource-efficient

Creation of demand is essential to increase sales volumes and reduce the costs of new resource- efficient technologies, TERI Director General Ajay Mathur said today at the World Economic Forum (WEF).
Citing the example of the Indian government's LED bulb programme, Mathur said aggregation of demand and bulk procurement helped in bringing down its prices.
The Energy and Resources Institute (TERI) is a not-for- profit entity focused on energy, environment, and sustainable development.
Demand creation is essential to enhance sales volumes and reduce the costs of new resource-efficient technologies, Mathur was quoting as saying at a session on 'The Future of Finite Resources'.

According to him, the ability to visually differentiate between resource-efficient products -- such as LED bulbs and renewable energy technologies -- from conventional options lies at the heart of their large scale adoption.
With star labels for energy efficiency, Mathur said consumers have consistently preferred high star label air conditioners.
"Air conditioners sold in 2017 were about 40 per cent more efficient than those sold in 2007 when the star labels were introduced," he noted.