The report was released by the US-based Rocky Mountain Institute in Delhi on November 12, 2018. The report claimed that Residential air cooling (RAC) is expected to contribute around 15 percent of the global carbon dioxide emissions by 2050, in turn increasing electricity demand. Emerging economies such as India, Mexico, and Brazil are expected to be major regions with high demand for RAC. Air conditioners are also known to have a disproportionately large impact on peak electricity load. New power generation with high capacity is required to be added to meet the increasing energy demand.
“The soaring demand for these energy-intensive units using potent greenhouse gases as refrigerants carries significant economic and environmental impacts, and could result in the single largest end-use risks to our climate, causing the temperature rise of over 0.5℃ by 2100,” mentioned the report. Furthermore, the report highlighted technologies to reduce the climate impact of air conditioners. “What is needed is a market ecosystem necessary to catalyze and scale this 5x solution. The critical need of the hour is for global, national and local coalitions to come together in order to spur the industry, stimulate innovation and prime the markets.”
Incentivize innovations in RAC technology are expected to reduce the climate impact of air conditioners. The government of India and the US-based Rocky Mountain Institute launched a ‘Global Cooling prize’ that will be awarded over the course of a two-year competition. Up to ten short-listed competing technologies will be awarded up to USD 200,000 each in intermediate prizes to support the design and prototype development of their innovative residential cooling technology designs. The winning technology will be awarded around USD 1 million to support its incubation and early-stage commercialization.―Ace Newz