World over, energy systems are undergoing rapid transitions towards cleaner and more sustainable solutions with renewable energy sources at the centre of these systems. However, there still exist several gaps that hinder the adequate scaling up of these solutions.
Energy Efficiency Services Limited (EESL) in partnership with The World Bank and World Resources Institute India (WRI India) are organising the #InnovateToINSPIRE challenge, inviting sector experts and practitioners to submit sustainable and scalable solutions under four broad categories: Grid Management, Electric Mobility, Energy Efficiency, and Energy Market Transformation.
CHALLENGE 1: Develop a forecasting tool to improve the accuracy of weather and wind forecasts.
CHALLENGE 2: Develop an economically viable battery system with improved energy storage, power performance and charging capabilities, and revenue stream?
CHALLENGE 3: Develop an electric vehicle that costs INR 10,00,000 or less and runs 200 km or more on a single charge.
CHALLENGE 4: Develop household devices that can help minimize or remove stand-by losses.
CHALLENGE 5: Develop a business model that can reduce the final rental per kg of goods by over 40 percent and/or the cost of transportation by 25 percent with a lower payback period.
Energy Market Transformation
CHALLENGE 6: Develop instruments of security to create liquidity to support energy-related innovation.
CHALLENGE 7: Develop instruments to be issued by entities for low-cost and long tenure loans.
Applicants will present to the world’s leading experts in the realms of energy management and sustainability. Winners of #InnovateToINSPIRE Challenge receive funding of INR 5,00,000 each, along with mentoring and guidance from sector experts to help them bring their solutions to the Indian market. The Challenge is open to participants from across the world until 12 October 2018.
#InnovateToINSPIRE is being held as part of the International Symposium to Promote Innovation and Research in Energy Efficiency 2018 (INSPIRE-2018), an annual international conference jointly organized by The World Bank and EESL to showcase innovations and best practices in energy efficiency technologies, policies and financing.
INSPIRE 2018 will focus on the theme of innovation, and aims to provide a unique platform to policy-makers, influencers, innovators, thought leaders, researchers, leading energy-efficiency companies, government agencies, business leaders and stakeholders from diverse sectors in India and abroad to discuss energy policies, market transformation strategies, and technology and business-model led transformations.
The event will be held in Hyderabad on 11-13 November 2018, where the winners of the #InnovateToINSPIRE Challenge will be announced.