High economic growth of last two decades has put India on the path of rapid urbanization and “Smart Cities”. This accelerated growth in India has created a multiple fold increase in demand for electricity for transportation, industrial, domestic and commercial sectors. In 2015, 32% of total generated electricity (3,03,200 GigaWatt-Hours) was consumed by domestic and commercial sectors. This ever-increasing demand for electricity is putting tremendous pressure on existing fossil fuel resources such as coal and natural gas, which is dangerous for our environment. Simultaneously, the increased emission of greenhouse gases from power plants has worsen the epidemic of global warming to an alarming level. Due to long and hot summer season in India, cooling and heating (during winter) of these buildings has a huge energy footprint and, hence, consumes large amount of electricity. The solution involves reducing the electricity consumption in residential and commercial buildings by increasing the energy efficiency of these structures. Incorporation of phase change materials (PCM) in buildings could reduce the electricity consumption in heating and cooling of these buildings.