National Mission for Enhanced Energy Efficiency (India)
The National Mission for Enhanced Energy Efficiency (NMEEE) is one of India’s eight missions under the National Action Plan on Climate Change (NAPCC). The NMEEE aims to strengthen the market for energy efficiency by creating a favorable regulatory and policy regime. It envisions promoting innovative and sustainable business models for the energy efficiency sector.
It sets forth out initiatives to enhance energy efficiency in energy intensive industries namely:
- Perform Achieve and Trade scheme, a regulatory instrument for energy intensive industries to reduce specific energy consumption, with an associated market based mechanism that enhances cost effectiveness through certification of excess energy saving which can be traded.
- Market Transformation for Energy Efficiency, for accelerating the shift to energy efficient appliances in designated sectors through innovations intended to lower prices of the products.
- Energy Efficiency Financing Platform, to create mechanisms for financing demand side management programmes in all sectors by capturing future energy savings.
- Framework for Energy Efficient Economic Development, for development of fiscal instruments to promote energy efficiency.
The Mission seeks to ramp up the efforts to unlock the market for energy efficiency which is estimated to be around Rs. 74,000 crore and help achieve total avoided capacity addition of 19,598 MW, fuel savings of around 23 million tonnes per year and greenhouse gas emissions reductions of 98.55 million tonnes per year at its full implementation stage.