India stands poised for its largest energy transformation project in the world. Organizers of the Vienna Energy Forum declared this stance on May 11, while introducing the keynote speaker, Piyush Goyal, India’s Energy Minister.
Goyal said in the presence of 1650 energy experts and government officials in Vienna that things had changed in 2015 with the Paris climate agreement and they should be ready to decouple economic growth from environmental impacts.
Enele Sopoaga, Prime Minister of Tuvalu said that India could visualize the urgency of climate action. Tuvalu is a small Pacific island country that is around ten feet above sea level, and with rising water levels many of its residents were forced to leave the country.
India is a country with 1.3 billion people and around 300 million who have reportedly no access to electricity. The Indian leaders want to turn their energy system green to create jobs, have clean air and water, and improve the quality of life to tackle climate change. Vivien Foster, an energy economist at the World Bank said that India was the poster boy for clean energy.
The replacement of LED lighting in India is expected to finish by 2019. Meanwhile, India is found leading in a business called an Energy Service Company (ESCO), which makes money on the energy costs that they save for their customers. Government power utilities establish an ESCO company that is called Energy Efficiency Services Limited (EESL). EESL has reportedly around $130 million investment in the United Kingdom. Many U.S. cities are also converting streetlights to LEDs including Chicago’s Smart Lighting Project.
India has also recently announced the adding up of 160 gigawatts of wind and solar power by 2022 and anticipates the country’s fleet of vehicles to be 100% electric powered by 2030.