Financing & Managing Energy Efficiency a Key to Energy Security

Abstract

Energy is one of the major inputs for the economic development of any country. In case of the developing countries, the energy sector assumes a critical importance in view of the ever-increasing energy needs requiring huge investments to meet them. The need to provide adequate, sustainable, and environmentally sound supplies of energy to fuel global economic growth has created an imperative for increased energy efficiency measures. Sustainable economic development which is an objective shared by developed and developing countries alike, although the urgency is particularly great in the developing world, where large populations do not have access to modern energy services such as electricity and instead rely on traditional and often unsustainable energy sources such as fuel wood. Demand for global energy services to support economic growth has grown by 50 percent since 1980 and is expected to grow another 50 percent by 2030.This paper will demonstrate how Energy Efficiency measures through proper Financing modes can help in achieving Energy Security. At the end of paper, a case study is provided, which aptly shows,the importance and effectiveness of Energy Efficiency measures.