Energy conservation is the practice of decreasing the quantity of energy used. It may be achieved through efficient energy use, in which case energy use is decreased while achieving a similar outcome, or by reduced consumption of energy services.
Energy conservation may result in increase of financial capital, environmental value, national security, personal security, and human comfort. Individuals and organizations that are direct consumers of energy may want to conserve energy in order to reduce energy costs and promote economic security. Industrial and commercial users may want to increase efficiency and thus maximize profit.
Energy conservation supports the eco-friendly lifestyle by providing energy from conventional energy sources, which saves your money and at the same time saves the earth. When you reduce the amount of energy consumption automatically makes efforts to reduce global warming potential.
With the growing energy needs and shortage coupled with rising energy cost, a greater thrust in energy efficiency in industrial sector has been given by the Govt. of India since 1980s. The energy Conservation Act 2001 has been enacted on 18th August’2001 which provides for efficient use of energy, its conservation & Capacity building of Bureau of Energy Efficiency created under the Act., to achieve Energy Conservation for Environmental benefits to reduce Carbon Credits.
Energy is the driver of growth. International studies on human development indicate that India needs much larger per capita energy consumption to provide better living conditions to its citizens. But such growth has to be balanced and sustainable. Two important concepts here are energy management and conservation. Planning commission of India has estimated that India has conservation potential at 23% of the total Commercial energy generated in the country. India’s energy requirement comes from five sectors; agriculture, industry, transport, services and domestic, each having considerable saving potential. For example, energy costs amount to 20 percent of the total production cost of steel in India which is much higher than the international standards. Sustainable growth also implies that our energy management and energy conservation measures are eco-friendly and accompanied by minimum pollution, in particular minimum carbon emission.
Energy Efficiency is achieved when energy intensity is reduced in a specific Product, Process or area of production without affecting the output, consumption or comfort levels, Energy Efficiency means using less energy to perform the same function. Energy Efficiency promotion will contribute to energy conservation and therefore a integral part of energy conservation promotional policies.
Energy efficiency according to the World Energy Council, has a broader meaning than mere technological efficiency of equipment; it encompasses all changes that result in decreasing the amount of energy used to produce one unit of economic output energy used per unit of Gross Domestic Product to achieve a given level of comfort.
Energy efficiency is associated with economic efficiency and includes technological, organizational and behavioural changes for the importance of energy intensity of national economies as an indicator of sustainable development was agreed in energy sector that “reducing the amount of energy and materials used per unit in the production of goods and services can contribute both to the alleviation of environmental stress and to greater economic and industrial productivity and competitiveness.”