The Energy Conservation (Amendment) Bill, 2022, in the Rajya Sabha to amend the Energy Conservation Act, 2001 . The bill aims to amend the Energy Conservation Act, 2001, which provides a framework for regulating energy consumption and promoting energy conservation .
New Delhi, December 12: On Monday, Union Minister Raj Kumar Singh would introduce the Energy Conservation (Amendment) Bill, 2022, in the Rajya Sabha to amend the Energy Conservation Act, 2001, empowering the central government to specify a carbon credit trading scheme.In August, the Lok Sabha passed the bill to amend the Energy Conservation Act, 2001.In 2010, the Energy Conservation Act, 2001, was reformed to address a variety of new challenges that emerged as the energy market matured over time, and to enable more cost-effective and reliable use of energy and energy conservation, including Green Water, Green Ammonia, Biomass, and Ethanol, while also strengthening the scope of the Energy Conservation Building Code and amend penalty provisions.The bill also aims to extend the reach of the Bureau of Energy Efficiency's (Ending) Act, The Energy Conservation Act for buildings will also apply to office and residential buildings with a connected load of 100 kilowatts or more.For vehicles and ships, energy efficiency requirements may be offered.The question is, if the Ministry of Justice is the right body to oversee this scheme.Is there a way to specify the act's market authority for carbon credit trading?The same activity may be eligible for green energy, energy savings, and carbon credit certificates.The bill does not specify whether these certificates will be interchangeable. Consumers may not have a choice in the energy mix due to the small competition among discoms in any area, and the Bill was introduced in the Rajya Sabha last Thursday.It seeks to amend the Energy Conservation Act, 2001, which provides a framework for regulating energy consumption and promoting energy conservation.Energy saving refers to using less energy to do the same job.The Act also established the Bureau of Environmental Sustainability, which was created to recommend rules and standards for energy consumption. Among the major strategies for reducing climate change is a push toward energy conservation and efficiency improvement.On these fronts, efforts are being made to reduce the energy production requirement and thus reduce greenhouse gas emissions.In a world that relies on imported fuels to meet some of its energy needs, these also have positive effects on energy security.