Let’s start with the kid’s joke:
What would you call a power failure? ……………….. A current event!
And, on a serious note, to manage power failure, the term ‘MANAGEMENT’ immediately comes to our mind. The word management is prevalent in all aspects of our life starting from our home to our workplaces and no one can deny its relevance in any known field in the recent times.
Then, can we say that energy sector on this planet can be dealt without any managerial skills?? The answer to this question itself tells us about the relevance of this important concept of Energy management which we have been hearing a lot globally.
It’s all about the best utilization of energy, improvement in the energy efficiencies and an optimum management of our resources. From an organisational point of view, it is concerned more with the reduction of the cost of energy and at the same time minimizing the carbon emissions as well. In short, we can say that the focus is to plan and operate energy related production and consumption units for resource conservation, climate protection and cost reduction.
The relevance of energy management in India can be understood through certain facts and figures. India is a rapidly growing economy which needs energy to meet its growth objectives in a sustainable manner. It has approx. 1% of world’s energy resources while having 16% of world population. 80% of the energy sources used are non- renewable which may last for another 40 years or so.
Another joke coming to mind:
Why wind energy is most favourite across the globe??
Because, it has got lots of fans.!!
Indian energy sector is facing a lot of challenge as about 75% of our crude oil needs are met from imports. Another issue is that the use of energy sources by our ever-increasing population has accounted to a large proportion of air pollution and brought it amongst the top five Green-house-gas (GHG) emitters globally.
Power in India is generated mainly through non- renewable sources of energy like coal. Other than the basic fact that the coal being the conventional source of energy which can’t be replenished the other factors are that it creates environmental pollution and is also costly. It is high time that the energy generating means should be diverted towards renewable sources of energy like solar, water, wind, biogas etc. The Indian renewable energy sector is the fourth most attractive renewable energy market in the world. India added a record 11,788 MW of renewable energy capacity in 2017-18.
Statistics and reports both suggest the energy consumption of the country has nearly doubled since the year 2000 *(Source: https://techstory.in/india-energy-management/). On the occasion of the 16th International Energy Forum (IEF), Indian Prime Minister shared how at 4.3 percent Compounded Annual Growth Rate (CAGR), India is the fastest growing energy consuming nation and, in turn, will become a key driver of global energy demand over 25 years. *(Source: https://nsbnoida.in/why-pgdm-in-energy-management/). We are also the largest producer of pharmaceuticals, chemical products, textiles, basic metals, electrical machinery and general machinery and equipment. This kind of progress and optimisation is powering greater efficiency which implies more energy consumption.