Smart meters, electric vehicles and distributed solar will help EESL garner a significant stake in the energy efficiency sector in India
Energy Efficiency Services Limited (EESL) has fulfilled the installation of 10 lakh smart meters across India. The endeavor has been executed under India’s Smart Meter National Program.
Apart from this, EESL has distributed around 36 crore LED (light emitting diode) bulbs as recorded in February, 2020. This has resulted in the reduction of 3.8 crore tons of carbon dioxide per year under the UJALA (Unnat Jyoti by Affordable LEDs for All) scheme. UJALA was launched by Prime Minister Narendra Modi on 1 May, 2015. UJALA is overseen by EESL and is the largest program in the world with respect to non-subsidized distribution of LED lamps. The target of UJALA is to install 770 million LED lights over a three year period. Almost 79 million tons of carbon dioxide emissions will be reduced over the course of implementing this program. Consumers can get LED bulbs at 40% of their market price under the UJALA scheme.
The Finance Minister, Nirmala Sitharaman announced a budgetary allocation of Rs.22,000 crore for the power and renewable energy sector, in her Union Budget 2020 speech this February. As a subset of this, states in India will have to replace existing energy meters with prepaid smart meters over duration of three years.
Smart meters and LEDs apart, EESL is also working towards garnering a 25% market share in the $15 billion energy efficiency market in India. The entity will venture into distributed solar products such as solar pumps for agriculture and so on. Keeping in line with the PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabiyan) scheme, EESL has procured 1.81 lakh off-grid solar pumps and will be deploying them across India.
EESL also has a road map to procure 10,000 electric vehicles (EVs) with a range of 140 km on a single charge. At the moment, around 1,500 vehicles have been deployed. The entity has recently launched a tender to procure 1000 EVs with a range of around 180 km per charge. EESL is also devising a framework to establish public charging stations for EVs in India. The entity will invest in sectors like manufacturing and commercial entities to implement its energy efficiency measures.
EESL is a Super-Energy Service Company (ESCO) that aids entities and individuals to fulfill their energy needs with the help energy efficient technologies. EESL is implementing non-subsidized energy efficiency portfolio in sectors like EVs, lighting, green buildings, smart meters and agriculture. EESL uses the Pay-As-You-Save (PAYS) model which has been successful in off-grid or distributed solar applications. EESL is promoted by the Ministry of Power (MOP) and is a joint venture (JV) between four PSUs – NTPC (National Thermal Power Corporation), PFCL (Power Finance Corporation Limited), REC (Rural Electrification Corporation Limited) and POWERGRID Corporation of India Limited.
Add Comment