India.com
Summary
As temperatures steadily rise in India due to climate change, keeping spaces cool using alternative and innovative energy-efficient technologies can open an investment opportunity of $1.6 trillion by 2040, a new World Bank report said. The World Bank in a report said this also has the potential to reduce greenhouse gas emissions significantly and create nearly 3.7 million jobs. India is experiencing higher temperatures every year.
The report — Climate Investment Opportunities in India’s Cooling Sector — finds that shifting to a more energy-efficient pathway could lead to a substantial reduction in expected carbon-dioxide (CO2) levels over the next two decades. “India’s cooling strategy can help save lives and livelihoods, reduce carbon emissions and simultaneously position India as a global hub for green cooling manufacturing,” said Auguste Tano Kouame, Country Director, World Bank India. “The report suggests a sustainable roadmap for cooling that has the potential to reduce 300 million tons of carbon dioxide annually by 2040.”
The report also recommended private investments in district cooling technologies. These generate chilled water in a central plant which is then distributed to multiple buildings via underground insulated pipes. This brings down the cost for providing cooling to individual buildings and can reduce energy bills by 20-30 per cent compared to the most efficient conventional cooling solution.
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