So some smart policy adjustments that provide better incentives for research while promoting more efficient technologies could relatively quickly pay enormous social and environmental dividends. Indeed, as our recent World Energy Assessment concluded, there are no fundamental technological, economic or resource limits preventing us from enjoying the benefits of both affordable energy services and a better environment. At the same time, Indian industry is highly energy-intensive with efficiency levels well below most developing countries. So there are very clear benefits to be derived from a new efficiency drive, both for the environment and in sharply reducing business operating costs. This is already happening.
Similar improvements are eminently repeatable in other sectors.
But that is just half the sustainable energy equation. In a country where fire and wind have long been recognised as deities, the potential importance of such sources of energy to human wellbeing is hardly news. And in many ways modern India has been at the forefront of trying to develop an integrated renewable energy policy that encompasses not only solar and hydro-electric power, but a wide range of alternative sources. And solving this problem is not just a question of increasing the supply of fuels or electricity but rather on improving the level of energy services, such as efficient lighting, water-pumping technologies, and cookstoves. Mainstreaming these kinds of low impact activities could quickly bring down unit costs and boost incentives for further research while dramatically improving the quality of life for literally millions of people.