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Power Minister RK Singh on Wednesday introduced the Energy Conservation (Amendment) Bill, 2022 in Parliament, which provides for setting up Carbon markets. Besides, the Bill also seeks to mandate the use of non-fossil sources, including green hydrogen, green ammonia, biomass and ethanol, for energy and feedstock. The amendments aim to promote renewable energy and the development of a domestic carbon market to battle climate change and help in achieving sustainable development goals in line with the Paris Agreement. Other amendments in the Bill include bringing large residential buildings within the fold of the energy conservation regime, enhancing the scope of Energy Conservation Building Code, and strengthening the governing council of Bureau of Energy Efficiency. Another key amendment is empowering the State Electricity Regulatory Commissions to make regulations for smooth discharge of its functions. Amidst growing energy needs and changing global climate landscape, the Centre has identified new areas to achieve higher levels of penetration of renewable energy. For instance, the Energy Conservation (Amendment) Bill aims to make it mandatory for buildings with a minimum connected load of 100 kW to meet their energy requirements from renewable sources By adopting energy efficiency measures, India holds a potential to reduce about 550 tonnes of carbon dioxide equivalent by 2030.
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