POWER-GEN Asia 2018

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Incentivising Efficiency Improvements (Room Garuda 8, 1st Floor)

Energy efficiency can play a major role in reducing emissions, particularly in rapidly growing economies where fossil fuels are expected to continue as the primary energy resource. Yet unlike renewable energy investment and emission reductions processes, there are insufficient incentive mechanisms to actively encourage energy efficiency improvements. Asian countries have generally been slow to adopt incentive mechanisms to accelerate emission reductions, amid concerns that emission constraints would undermine economic growth. Yet as signatories to the UN Paris Agreement these countries have an obligation to meet their national climate commitments. Improving energy efficiency could be a major contributor to meeting these commitments. This paper discusses mechanisms that could be implemented to improve energy efficiency in the non-domestic sectors, incorporating both technology and business management incentives. The contribution of these mechanisms to energy intensity, as well as the economic and climate rewards provided, are then qualified and quantified, and compared against alternative scenarios where these incentive mechanisms are not adopted.