google.com, pub-5012522416583791, DIRECT, f08c47fec0942fa0 google.com, pub-5012522416583791, DIRECT, f08c47fec0942fa0 Colombo Stock Market Financial Research: GREEN ENERGY SOLUTIONS TO THE APPAREL INDUSTRY google.com, pub-5012522416583791, DIRECT, f08c47fec0942fa0
google.com, pub-5012522416583791, DIRECT, f08c47fec0942fa0

Sunday, May 27, 2018

GREEN ENERGY SOLUTIONS TO THE APPAREL INDUSTRY


This research will identify the energy usage and consumption of Apparel industry in Sri Lanka and provide ‘Green Energy’ solutions for the industry. As a main export business and a large industrial component in Sri Lanka, apparel industry consumes large amount of electricity. So, the study was a step towards achieving the goal of introducing green energy solutions to the apparel industry. The adoption of green energy solutions to the industry is seen as an important strategy in finding a solution to the energy problem. Green energy is the sustainable provision of energy that meets the needs of the present without compromising the ability of future generations to meet their needs. Technologies that promote sustainable energy include renewable energy sources, such as hydroelectricity, solar energy, wind energy, wave power, geothermal energy, and tidal power, and also technologies designed to improve energy efficiency.
In order to increase the accuracy of the research, the researcher will discuss more methodological arguments in literature review. Therefore it will be very supportive to develop independent variables for a selected dependent variable. The researcher has identified “the green energy solutions to the apparel industry in Sri Lanka” as the dependant variable, and the factors that determine the adoption of green energy to the industry as the independent variables, which are namely, the current energy sources using in the apparel industry in Sri Lanka, availability of green resources in the country, the energy consumption and the usage of apparel factories, senior managers attitudes towards adopting green energy to the industry and the government regulations and motivation towards the green energy concept. The population of the research is based on the main apparel factories in Katunayeka trade zone in Sri Lanka, which can be taken as a sample to represent the whole Sri Lankan apparel industry and the researcher is using the simple random sample technique as the sampling technique.

Apparel industry is an energy intensive industry and the energy cost in this sector is a significant component of its operational cost. Operating costs can certainly be reduced by performing energy analysis and diagnostics, leading to efficient energy conservation and management policies. Apparel sector uses energy from several sources. Among those, electricity is the most extensively used energy. This study has assessed the energy used in apparel sector of Sri Lanka and suggested Green Energy solutions to the apparel industry.

As a main export business and a large industrial component in Sri Lanka, apparel industry consumes large amount of electricity. So, the study was a step towards achieving the goal of introducing green energy solutions to the apparel industry. The adoption of green energy solutions to the industry is seen as an important strategy in finding a solution to the energy problem. The key factors to reducing and controlling CO2, which is the major contributor to global warming, are the use of alternative approaches to green energy generation and the exploration of how these green energies are used today and may be used in the future as green energy sources in Sri Lanka.

Further, the secondary data collected by the existing green factories in Sri Lanka is provided to support the core idea of the research. The difference between the energy consumption of a green factory and a standard factory is shown by tables and figures followed by the electrical usage in 2009 to 2012 mid and moreover, the trend of the electrical cost and the unit usage is analysed monthly to give a clear image on the electrical usage in a Green factory.


It can be stated that the investment made on the green energy efficiency measures can be recovered within recent future. In addition, reduction of energy cost will result in decline of production cost of the apparel factories and to achieve competitive advantage.

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