Why Energy Management?

Remember the times when even computer professionals doubted that there would ever be a market for home computers? I suspect we are at a similar stage with energy management.

Demand management, local and microgeneration, storage and demand related tariffs are not just around the corner but are here in one degree or another.

A career in Energy Management accompanies immense scope and opportunities. Experts in energy management have a good career and a prosperous future ahead for them. With vast possibilities and degree both regarding employment openings and entrepreneurial ventures, there is no thinking back for the energy management workforce once they are in this sector. Because of the enormous potential in this field, private equity funds and venture capital are investing a considerable measure of money even if there should be an occurrence of new ventures in this field.

Also, things are changing, very slowly. Some executives at the top do believe that Energy is a considerable expense and something no one can avoid. Hence, it should be monitored, managed, and improved upon.

Managing consumption of energy provides the scope of energy management personnel in almost all fields of economic activities such as Refinery & petrochemicals, Housing, Real Estate & Construction, Cement, Pharmaceuticals, Infrastructure, Manufacturing, Chemicals, Hospitality, Automobile, Mining, Food Processing, Iron & Steel and many more.

Indian Scenario

The relevance of energy management in India can be understood through certain facts and figures. Our country is a rapidly growing economy which needs the energy to meet its growth objectives sustainably. It has approximately 1% of the world’s energy resources while having 16% of the world population. Imagine this, 80% of the energy sources we use are non-renewable and may last for only for another 40 years or so.

The Indian energy sector is facing many challenges as about 75% of our crude oil needs are met from imports. Another issue is that the use of energy sources by our ever-increasing population has accounted in no small proportion of air pollution and brought it amongst the top five Green-house-gas (GHG) emitters globally.

We are also the largest producer of pharmaceuticals, chemical products, textiles, basic metals, electrical machinery, and general machinery and equipment. This kind of progress and optimization is powering greater efficiency, which implies more energy consumption.

A significant role is being played by the Govt policies in the energy management field. The focus of the Government of India has also shifted to clean energy after it ratified the Paris Agreement in 2015, which bound the member countries to curb carbon emissions. With the increased support of government and improved economics, the energy sector has become attractive from the investors’ perspective. As India looks to meet its energy demand on its own, renewable energy is set to play an important role. The Government of India is committed to increased use of clean energy sources (water, wind, solar, etc.) and is already undertaking various large-scale sustainable power projects and promoting green energy heavily. Also, renewable energy has the potential to create many employment opportunities at all levels, especially in rural areas. It is expected that by the year 2040, around 49 percent of the total electricity will be generated by renewable energy.

Conclusion

With so much work to be done in this field to make India energy efficient requires young leaders with managerial skills who can face challenges, take decisions and introduce their learned visions can very well explain the importance of the emerging future of Energy Management. Listed below are some electives offered at NSB in the field of Energy Management: