The utilization of energy has increased over time due to modernization and urbanisation of the world. This has had an inverse effect on our natural resources, forests and environment as a whole. Hence, there is a need for sustainable development for future sustenance. Efficient use of energy, thereby minimizing energy waste and energy consumption, is vital for global economic and social development. Higher energy efficiency along with better energy consumption management reduces the organisations’ operational costs and enhances its profitability.