The President also emphasised the need for a balance between energy consumption and availability of resources to achieve sustainable development.
He was speaking at an event here to mark the National Energy Conservation Day.
The net import of energy is projected to increase by 8 per cent per year over the 12th Plan period, Mukherjee said.
"... While compulsions of achieving a high growth rate exist, such reliance on imports would have implications on the fiscal balance of our economy.
"Sustainable development mandates the use of available natural resources in a more efficient way... A shift to cleaner energy sources is, thus, imperative," he said.
Noting that environmental concerns today occupy the centrestage of global discourse, Mukherjee said that India's energy consumption is expected to double over the next two decades, in line with the growth requirements of the economy.
"There must be increased understanding of the fact that the path to a more sustainable future will require our society to make a better balance between its energy consumption vis- a-vis cost and availability," Mukherjee said.
According to him, policies to promote energy efficiency, along with high energy prices and structural changes in the economy have resulted in declining energy intensity.
"The direct contribution of policies to reduce energy use during the five years of the 11th Five Year Plan period has resulted in savings equivalent to 10,836 MW of avoided power generation.
"In monetary terms, this has resulted in annual savings of Rs 3,000 crore," he said.
