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RENEWABLE COGEN PROJECTS, RENEWABLE ENERGY INVESTMENT, OFFSET CARBON FOOTPRINT

Most of the developed countries ensure renewable energy investment for various renewable cogen projects in order to offset carbon footprint

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RENEWABLE COGEN PROJECTS, RENEWABLE ENERGY INVESTMENT, OFFSET CARBON FOOTPRINT

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  1. IMPORTANCE OF RENEWABLE COGEN PROJECTS AND RENEWABLE ENERGY INVESTMENT IN OFFSETTING CARBON FOOTPRINT Intro: Mostof the developed countries ensure renewable energy investment for various renewable cogen projects in order to offset carbon footprint Industrial growth is one of the key drivers for increasing the electricity demand and energy intensity for any country. Most of the developing countries have limited domestic energy resources, and hence are increasingly reliant on imported fossil fuels to meet their energy needs, which raise the issues of energy supply security, vulnerability to international price fluctuations and subsequent impacts on domestic energy prices. Most of the countries in their nationally determined commitment (NDC) communication, have proposed Renewable energy investment for Renewable cogen projects as the key approaches to achieve the NDC target. The major EE focus is on the industries and then to the nex t level on the buildings. Energy efficiency (EE) improvements are the best and cheapest options to (i) meet the future energy demand, (ii) improve energy security, (iii) help the consumers save energy and cope up with the potential rate hike, (iv) offset carbon footprint and (v) mitigate climate change. Countries are coming up with Minimum Energy Performance Standards (MEPS) for industries as well as buildings. Energy efficiency and Conservation laws are also being proposed and mandated. Agro industries can remain competitive only if they emphasise on energy efficiency and reduce energy cost for processing. In this aspect, several countries have already come up with energy conservation acts. Apart from agro industries, importance is given for energy conservation in buildings and household sectors. To encourage energy conservation, energy labels are given for equipment such as TV, refrigerator, air-conditioners, etc. In some countries, incentive schemes and special funds are also available to promote energy conservation.

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