Ravichandran Purushothaman is the President of Danfoss India. He has been handling several roles since 2002 in Danfoss across several markets in Asia Pacific. He has been actively working in Energy, Water, Food & Agri, and Technology space supporting and mentoring several early-stage start-ups in India in various roles.
We spend an estimated 90 per cent of our time indoors, which means that buildings play a crucial role in our lives. However, buildings also contribute significantly to carbon emissions. According to the International Energy Agency, buildings account for approximately 40 percent of global energy consumption and 33 percent of carbon dioxide emissions. It is therefore crucial to make buildings more energy-efficient to reduce their carbon footprint and mitigate the impact of climate change.
The Importance of Energy-Efficient Buildings
Energy-efficient buildings can contribute to decarbonizing the built environment in several ways. Firstly, by reducing energy consumption, these buildings can help to reduce carbon emissions. Energy-efficient buildings can also promote a shift towards renewable energy sources. Additionally, these buildings can support the development of more sustainable cities and communities.
The potential impact of energy-efficient buildings is significant. According to the U.S. Green Building Council, buildings that meet its Leadership in Energy and Environmental Design (LEED) standards can use up to 25 per cent less energy and 11 per cent less water than conventional buildings. Additionally, these buildings can reduce greenhouse gas emissions by up to 34 per cent.
The Time to Act is Now
According to the EIA's International Energy Outlook, India will have the fastest growth in global commercial building energy consumption until 2040. (Energy Information Administration). The emissions in India will further peak due to economic growth, rising income levels, and population growth as there will also be an exponential demand for education, healthcare, leisure, recreation, and other services, resulting in the increased use of appliances and energy-consuming equipment for lighting, space cooling, and comfort.
This is an area for immediate action, investment, and policies to promote short and long-term energy security given India’s commitment to Net Zero transition. Energy efficiency (EE) is the fastest, easiest, and most impactful way to accelerate the green transition acknowledged by the world today.
Buildings as the Cornerstone to Decarbonization
Optimizing Energy Use
In terms of global energy consumption, the building stock represents a major portion. The building consumes 80 per cent of its energy for heating, ventilation, and cooling can result in an average energy savings of 30 per cent, with a payback time of two to four years.
A highly cost-effective platform for reducing GHG