Businesses can assess their renewable power consumption and energy transition readiness with an online tool launched by The Energy and Resources Institute (TERI).
The ratings system launched by the New Delhi-based research body is called the Portal for Renewable Energy Action Assessment Metrics (PRAMAAN) and enables commercial and industrial (C&I) entities to assess their energy transition readiness.
Although commercial and industrial users consume around 49% of Indian electricity, only 3.5% of the power procured by them is from renewable sources, according to a report by Haryana-based JMK Research & Analytics and U.S. body the Institute for Energy Economics and Financial Analysis.
The PRAMAAN tool provides indicators for commercial and industrial (C&I) organizations of all sizes to assess progress towards a low-carbon future and offers a framework to prioritize electricity options, assess risks, identify opportunities, set targets and develop sustainable energy roadmaps.
TERI director general Ajay Mathur said: “This is a way for organizations who adopt PRAMAAN to learn not only about what they are doing but also about what the rest of industry is doing, to understand their own readiness and to draw on the benefits being provided by the move towards renewable energy. We look forward to the C&I sector taking advantage of these kinds of interventions and leading from the front. We also look forward to providing handholding [and] knowledge sharing, providing resources needed to set up new plants or to fine-tune existing plants into third-party performance, and also [to] provid[ing] training wherever require[d] to optimize performance.”
The Securities and Exchange Board of India recently announced sustainability reporting–mandatory for its top 100 companies–will be obligatory for the top 1,000 businesses from next year.
Rajeev Singh, director general of the Indian Chamber of Commerce, said while some large companies have committed to 100% renewable energy integration, medium, small and micro enterprises remain a challenge. He suggested thinking of innovative approaches and looking at measures such as clustering and introducing shared services.
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