Mahua Acharya, MD and CEO, Convergence Energy Services , tells FE’s Anupam Chatterjee how the company’s LED programme has become particularly important after the COP 26 UN Climate Change Conference held in Glasgow in November 2021, where India made its 2070 net zero announcement.
Private companies have been preferring the voluntary market where prices of carbon credits vary significantly, from as low as 10 cents to $80 as pricing depends on various factors.
Projects such as supplying three-wheeler electric vehicles, though they affect people’s lives and impact employments, have no specific guidelines for carbon credits.
The price of the LED bulb we supply is around Rs 85, and there are other expenses of around Rs 15, taking the total cost to Rs 100.
If state governments shared the capex, they can also gain from the earnings from carbon credits or simply invest in energy efficiency.
For our EV bus programme, where we are the demand aggregators, we have received orders from Hyderabad, Bengaluru, Delhi and Surat.
For the EV three-wheeler programme, we have already closed the tender and have discovered prices which are 20-25% lower than the market rates.
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