India and the US Partner to fight climate change by deploying energy efficiency solutions

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KONsys has registered a dynamically growing demand for AVReporter Energy Management Software from India. The recent event of US President Barack Obama and Indian Prime Minister Narendra Modi joining forces in the battle to combat climate change has just increased that. The collaboration will see India move away from the finance model of subsidies and hand-outs, with capacity instead built using innovative and sustainable funding.

As the Economic Times reports, India's push towards adding 100,000 MW of clean energy will begin in haste next month when US groups interested in investing in green energy in the country will negotiate with Indian officials from the finance ministry, Reserve Bank of India and other agencies.

A government official explained how the partnership will increase opportunities in India - openings US companies and officials are said to be very keen to explore.

"The government is determined to attract companies and make it easier for them to do business in the country. India already allows 100% foreign direct investment in renewable energy, and encourages technology transfer," he said.

Renewable energy accounts for 33,791 MW out of India's total generating capacity of 255,000 MW, as of the end of December. The Indian government, however, wants to increase the percentage occupied by green energy, and is offering incentives as well as placing regulations on distribution companies in order to do so.

The Confederation of Indian Industry (CII) has been encouraged by statements on climate by Obama and Modi, suggesting the clean energy drive will have a positive effect on all parts of Indian's social structure.

"The announcement that the US and India will collaborate closely to fight climate change through clean energy projects, low gas emissions technologies, and efficiency solutions will help India achieve its goal of becoming a low-carbon economy over time while fulfilling its developmental objectives of lifting millions out of debilitating poverty," said Chandrajit Banerjee, director-general of the CII.

Modi and Obama on Climate change

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