Power Minister Piyush Goyal also appealed to the people to avoid electricity wastage so that poor households could be benefited.
Mumbai: India will switch over to LED bulbs by the end of 2018 which would result in a massive saving of 100 billion units of electricity and Rs 14,000 crore per annum to the nation, Power Minister Piyush Goyal said in Mumbai today.
He said one unit saved equals 1.3 unit generations and after accounting for transmission losses, judicious use of the energy would result in reduced production costs as well as help conserve the environment.
Mr Goyal also appealed to the people to avoid electricity wastage so that poor households could be benefited, while inaugurating a two-day National Conference on Energy Audit for Educational Institutions in Mumbai.
Expressing concern over the state of electrification in the country even seven decades after Independence, Mr Goyal reiterated the National Democratic Alliance (NDA) government's mission of providing each household in the country with 24x7 power, including in remote corners.
Besides, the government would explore the possibility of installing 'smart meters' for those consumers utilising more than 200 units to show consumption patterns and help them avoid wastage of electricity.
Presently, the country has installed capacity of 281,423 megawatts from all sources -- state, Centre and private -- and all types of fuels including coal, gas, hydro, nuclear and renewables, with a target for 2015-2016 to generate 1137.50 billion units but deficit still remains.
Mumbai University Vice-Chancellor Sanjay Deshmukh, KC College principal Manju Nichani and other dignitaries and officials were also present on the occasion.