Growing Opportunities for Entrepreneurs in Smart Energy Buildings: a Case of India

With an approximate consumption of about 36% of final energy, the building sector the biggest contributor to global GHG with process related and energy related CO2 emissions accounting for 39% in 2018. If the buildings continue to develop the way they are today, these emissions will be doubled by 2050. There was a 2% increase in emissions from 2017 to 2018 and the final demand for energy increased 1% from 2017 to 2018 and 7% from 2010 to 2018. The electricity is the major energy source used by global building stock is electricity; whose use has been increased by 19% since 2010 which is mainly generated from natural gas and coal. The energy intensity for space heating and lighting has been improved by -2% and -1.4% respectively from 2017 to 2018 but increased for space cooling by +2.7% and remained constant for appliances, water heating and cooking. In 2018 with an increase of 8%, the space cooling is the fastest growing segment for energy use since 2010 although only 6% of total demand is accounted for this (2019 Global Status Report for Buildings and Construction, 2019). India represents six percent of the globe’s essential consumption of energy. Quick urbanization and fast urban populace development have seriously affected the consumption of energy and consequent carbon emissions. Specifically, urban communities meet a perplexing and interconnected arrangement of provocation throughout various segments (mobility, building environment, waste and water management and from public services). Reconsidering these difficulties by incorporating smart energy management (SEM) concept is basic for manageable and urban low-carbon advancement. Furthermore, overseeing vitality footmark is the core testing objectives for urban communities, and as present urban communities are developing and shifting towards smart cities, SEM turns into a necessary piece for the change of urbanization. This report completely surveys the various types of SEM advances for different segments (development, transportation, open administrations, water and waste), the arrangements, and the flow difficulties and open doors for SEM strategy administration in India. By making energy of urban smart can deal with city's energy impression and can make a positive effect on carbon emissions in future (Yenneti, Rahiman, Panda, & Pignatta, 2019, p. 5). The global IoT market and smart buildings market is booming and entrepreneurs can benefit from it by going through a proper process in India.