4.5. Technological indicators (Tec)
Technology may play a significant role in assessing sustain- ability in energy planning and management. Technology selection is greatly influenced by the cost of technology, product targets and GHG emission reduction targets. It would also be influenced by governmental policies such as fossil carbon taxes or some other such as stimuli to reduce the fossil carbon footprints [61]. Technological indicators may be classified as Capacity utilization and effectiveness; Adoption and continuous up gradation of smart technologies; and Flexibility to incorporate latest technological advancements and are explained as
4.5.1. Capacity utilization and effectiveness (Tec1)
Significant variations in capacity factors have been observed based on geographical location and energies that should be effectively utilized according to their capacity factors [24]. Due to the economical and technological developments around India, demand for energy is constantly increasing. Development and diffusion of more efficient technologies may entail costs, but the benefits can be adequate to justify the costs [70].
4.5.2. Adoption and continuous up gradation of smart technologies (Tec2)
India has an advantageous position compared to developed countries and may set a new development trends by continuous up gradation of smart technologies, adopting highly efficient, reliable, world class technologies in all spheres of life [27]. Smart grid technology adoption is a requirement of today’s scenario to achieve uninterrupted power supply in a sustainable way [86].
4.5.3. Flexibility to incorporate latest technological advancements (Tec3)
Old and incompetent technologies and the dilapidated state of assets, compounded by poor operations and maintenance may reduce efficiency and effectiveness of energy utilization [14]. Today’s energy systems must be flexible to react to market changes, in particular abrupt fuel price fluctuations and to incor- porate new technological developments [40]. India must look towards new and emerging energy efficient latest technologies to add flexibility in meeting the energy demands of the country [8]. Utilizing of the renewable energy resource can be an impor- tant solution to achieve flexibility [16].