Energy, as a commodity has the highest significance in determining the competitiveness of a country at present times. In that respect, energy supply is a pivotal factor in the economic growth of the country. Likewise, energy also has significant impacts on the environment of a country where the combustion and utilization of energy sources, especially non-renewable energy sources, have led to rapid degradation of the environment. Greenhouse gas (GHG) emissions and climate change are some of the serious implications of rampant energy use which ensues as a result of fast paced industrialization and economic growth.