Singh, celebrated for his chart-topping songs and electrifying stage presence, was delighted to visit Kanz Jewels
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This is, in fact, critical as 40 per cent of the carbon emissions come from electric power generation.
While consumers are generally aware and even take measures to become “green,” most have no idea that generating power during peak hours cost up to 100 times more than off-peak hours.
At the World Future Energy Summit here, experts believe that it is high time consumers are given better incentives for switching to eco-friendly energy and products.
“Enabling technology and green appliances could reduce a household energy bill by 10 per cent or more,” claimed Greg Cominos, commercial leader at GE Energy.
One answer given to cleaner and more efficiently consumed energy is the smart grid. “Smart grid enables renewable energy. It is more flexible and more efficient, but we are still a long way from reaching its potential,” claimed Rend Stephan, partner and managing director of Boston Consulting Group.
From “optimisation” of smart grid, the industry must go all the way to power plants.
“If we can do that, we can expect that consumer bahaviour alone would contribute one third of energy saving,” revealed Stephan.
ABB, a global power and automation technology company, is already implementing smart grid technology and it is pretty happy with the results.
The company has installed such smart grid technology in an offshore oil platform in the North Sea, and as a result carbon dioxide emissions have been reduced 130 million kilogrammes per year. The way forward, though, in the opinion of Peter Terwiesch, chief technology officer at ABB, is not just producing alternative energy, but to stop wasting it.
“About 80 per cent of energy is lost because of inefficient consumption,” said Terwiesch.
Efficient energy consumption means, again, reverting to “green,” “clean” products, facilities and services, such as electric cars and switching off or reducing the amount of air conditioning when living the house.
The contra-argument is that green products and technology are too expensive and not up to scratch, but experts now say “not anymore.”
“Green has moved to the mainstream. In fact, it allows people to save money,” claimed Rend Stephan.
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