The second edition of the International Symposium to Promote Innovation & Research in Energy Efficiency (INSPIRE-2018) was flagged off by the Power Minister. The symposium provides a prestigious platform for various policy makers, innovators, financiers, influencers and stakeholders to join hands for promoting energy efficiency. An initiative of Energy Efficiency Services Limited (EESL) and World Bank, the three-day event is concentrated on enhancing grid management, e-Mobility, financial instruments and technologies for energy efficiency in India.
INSPIRE-2018: India’s First Energy Efficiency Event
INSPIRE is hailed as India’s first-ever event entirely devoted to promoting energy efficiency. It provides an opportunity for showcasing best practices in transformative policies, large scale implementation, financing models, and high-impact research initiatives, both nationally and internationally. The symposium also includes the #InnovateToINSPIRE challenge that recognizes and rewards innovations in the field of energy efficiency.
Energy Efficiency Services Limited (EESL)
Operated under the Ministry of Power, Government of India, EESL is working consistently towards mainstreaming energy efficiency. EESL boasts of implementing the world’s largest energy efficiency portfolio in India.
Global Environment Facility (GEF)
Launched on the eve of the 1992 Rio Earth Summit, GEF was set up to address our planet’s most pressing environmental problems. Based in Washington DC, United States, GEF is an international partnership of 183 countries, international institutions, civil society organizations and the private sector.
| Technology | EERF Funding Usage |
|---|---|
| Street lighting | Initial investment cost of energy efficiency programmes. |
| Domestic lighting | Financing additional projects. |
| Five-star rated ceiling fans | Expanding and sustaining investments in energy efficiency market in India. |
| Agricultural pumps. | Building market diversification. |
Energy Efficiency Revolving Fund (EERF)
EESL and Asian Development Bank (ADB) signed an agreement for a Global Environment Facility (GEF) grant of USD 13 million to establish the Energy Efficiency Revolving Fund (EERF). The fund is designed to expand and sustain investments in the Indian energy efficiency market, diversify the market, and scale up existing technologies. EERF aims at reinforcing four of EESL’s existing technologies – street lighting, domestic lighting, five-star rated ceiling fans, and agricultural pumps. It will also aid in promoting some of EESL’s newer technologies like ‘super-efficient’ ceiling fans, tri-generation, and smart grids/meters. The fund mechanism will help cover the initial investment cost of energy efficiency programmes, with savings from these technologies being used to finance additional projects.