As the Rajya Sabha bid farewell to its chairperson and Vice President of India, Mr M. Venkaiah Naidu on the fourteenth day of the Monsoon Session of the parliament on Monday.
The Lok Sabha passed the Energy Conservation (Amendment) Bill, 2022, and adopted a motion to introduce the Electricity (Amendment Bill), 2022 as the opposition protested and demanded a division of votes.
The Bill was floored by the Minister of Power, New and Renewable Energy, Mr R.K Singh on 3rd August and it has been passed in the lower house.
The Bill aims to reduce India’s power consumption via fossil fuels, thereby minimizing its carbon footprint.
- To develop India’s Carbon market and boost the adoption of clean technology.
- India aims to meet its Nationally Determined Contributions (NDCs), mentioned in the Paris Climate Agreement, before its 2030 target date.
Along with this, the bill proposes to:
- Define the minimum share of renewable energy to be consumed by industrial units or any establishment.
- This consumption may be done directly from a renewable energy source or indirectly via the power grid.
- Incentivise efforts to use clean energy by issuing carbon saving certificates.
- Strengthening institutions that were up originally under the Act, such as the Bureau of Energy Efficiency.
- Facilitating the promotion of green Hydrogen as an alternative to the fossil fuels used by industries.
- Considering additional incentives like carbon credits for the use of clean energy to lure the private sector to climate action.
- Including larger residential buildings under energy conservation standards to promote sustainable habitats.
