Constructing change: accelerating energy efficiency in India’s buildings market
India is at a crossroads in its development path. To keep pace with a projected 9 percent growth rate, India’s energy production must grow 6.5 percent per year from 2011 to 2017. India’s growth rate means rapid urbanization; building occupied area in India is projected to skyrocket from 8 billion square meters in 2005 to 41 billion in 2030. Yet, India already experiences severe energy scarcity today. India’s current power production capacity cannot meet the expected energy demand to sustain its growth rate in coming decades. Energy efficiency is the fastest, cleanest, and cheapest way to meet energy needs. India could save $42 billion each year by largely improving energy efficiency in buildings. Identifying the groups responsible for the successes of, and obstacles to, energy efficiency is critical to building a roadmap with actions for each stakeholder to capitalize on the opportunity to save energy. Three groups, state and local governments, real estate developers and financial institutions, are particularly critical to the successful development and implementation of efficient buildings.