In this blog, for more than two months, I have advocated for the use of alternative energy whenever possible and I tried to give adequate coverage to any initiative related to alternative energy. I am happy that World Bank is one of strongest supporters of alternative energy. According to World Bank, nearly 2 million people die annually world wide every year from unhygienic cooking condition inside the houses. Rising energy price in the international market has already affected both India and China negatively and millions of people in China and South Asia still do not have access to electricity.
It seems that India and China can save a lot of waste of energy by investing into more in clean energy. A report of World Bank and the U.N. Environment Programme indicated that in this part of the world, often commercial banks fail to comprehend the potential of saving money by using sophisticated technology to produce cleaner and more environement friendly energy. It is not exactly alternative energy but cutting back on energy waste means a cleaner and healither environement for all of us. In the report of Khaleej Times, I could find an example of an Indian company that could get back its investment on cutting energy waste within one year:
Among successes, a unit of India’s Pragati Paper invested $91,000 in energy efficiency for a pulp plant, giving estimated annual savings of $139,000. “The payback period was less than one year,” Levin said."
So, invesiting on cutting back of energy waste is not a bad thing after all. I wish that Indian bankers could understand this.
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