CHENNAI: The Indian Institute of Technology Madras (IIT-M) Energy Consortium on Friday hosted an 'Industry Day 2023' in the campus to chart a path towards decarbonizing the Indian economy.
The workshop brought together different stakeholders to prepare strategic initiatives and lead towards specific projects around Energy efficiency and Carbon Trading. The workshops will focus on two sectors: the industrial/manufacturing sector and commercial buildings.
The Energy Conservation Act, 2001, was amended in December 2022 by the Indian Parliament. It set the ball rolling on the development and adoption of various measures that would focus on energy consumption, energy efficiency and carbon trading.
"At Cummins, we are committed to making people's lives better by powering a sustainable future. As a privileged partner and founding member of the esteemed IIT Madras Energy Consortium, we are excited to collaborate with industry peers and academia on strategic initiatives focused on decarbonization and sustainability. I am confident that our joint efforts, driven by research and innovation, will enable us to effectively address the challenges presented by Climate Change. Together, we will work toward our goal of powering a cleaner and greener future, " said Ajay Patil, CFO-Cummins India, a leading manufacturer of engines and power generation equipment.
Elaborating on the key projects undertaken by The Energy Consortium, Professor Satyanarayanan Seshadri of IIT-M said that Meeting India's net zero commitments require efforts at multiple levels including core technology development, partnering with right institutions and industries for scale-up and setting the right directions.
"The 'TREND Setter' program launched during the industry day saw two major and five exploratory research projects supported. These span various topics from green ammonia to carbon capture to battery materials to sustainable aviation fuels. The Energy Consortium is supporting these projects in close collaboration with the founding members and looks to deliver significant outcomes in 12 to 18 months. Energy efficiency is often considered the first fuel against climate change. It is also often the most neglected opportunity to decarbonise as the impact and outcomes are not immediately visible. There are also challenges in the perception of the magnitude of benefits. Thus, the impact of Energy efficiency so far in India has been much below its potential, with over 70 per cent of the recommendations provided by energy auditors being ignored, especially in the industrial sector, " he added.