Setting Up an Energy Management Company in India

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Setting up an Energy Management Company in India

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Energy management has received unprecedented attention in the last few years in India as its energy demand grows every year. This is largely a result of India's economy, which has steadily advanced over the last 30 years, averaging a 7 percent per year growth since 2000. Energy is basic requirement of every industry every individual and it is one of the scarcest and most important source of energy in life of every individual and industry hence management of energy is becoming more and more important now as most important source of energy are fossil fuels and in few year they will deplete as they are on verge of depletion cost of fossil fuel are being increasing at massive speed and making running of industry and life more and more difficult hence now demand of energy management have risen a lot because energy management firm can reduce maintenance cost by 20 % and energy cost up to 30%. Energy market consist of large number of products which include fossil fuels, renewable energy etc. But one of the main targets of fossil fuels renewable resources is generation of electricity. Net electricity generation projection worldwide totals 31.8 trillion kilowatt-hours in 2030 according to IEO 2010, 77 percent higher than the 2006 total of 18.0 trillion kilowatt-hours. In this competitive world, cost competitiveness is vey essential for survival of every individual. To establish any work / motive or task, energy in one or other form is an essential component. Thus the need to conserve energy, particularly in industry and commerce is strongly felt as the energy cost takes up substantial share in the overall cost structure of the operation. Hence it calls management of energy or in other words management of resources or energy conservation. Energy Services Companies (ESCos) originated in France before the Second World War. India's ESCO industry is relatively young. The first three ESCOs in India were established in the early 1990s, initiated in large part by funding from the U.S. Agency for International Development (USAID). These initiatives included training workshops held by energy specialists from the United States and an ESCO feasibility study. Enterprises such as ESPs, LDCs, ISOs, PXs, UDCs, RESCOs, DISCOs, Transco's, and ESCOs operate alongside traditional electric utilities. Of these, the ESCO, or Energy Service Company, are new and they offers services historically outside the domain of regulated electric utilities. ESCOs also provide the broadest range of services to energy users. Due to the nascent energy management market in India, the new firms have the tremendous opportunities to set up in India and expand their business.

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