Latest news with #CoolCoalition
Economic Times
3 days ago
- Business
- Economic Times
Conditioning a cool behavioural move
Agencies In a warming India, ACs are a necessity. Yet, only about 7% of households own one. That's changing fast. 14 mn units were sold last year alone, and residential ownership is projected to grow 9x by mid-century. This surge could require tripling electricity production. But before that, the grid needs protection. In a welcome step, GoI announced on Tuesday that it plans to soon mandate temperature settings between 20° C and 28° C for all ACs - residential, commercial, and even those in vehicles. The move aims to improve energy efficiency, smooth out demand spikes and cut consumer power bills. Many ACs allow settings as low as 16° C and as high as 30° C, encouraging energy 2050, air conditioning could account for a quarter of India's GHG emissions and nearly half of nationwide peak electricity demand, according to UNEP's Cool Coalition. Yet, India has so far declined to sign the coalition's Global Cooling Pledge, which seeks to reduce the sector's climate impact. There is, however, some good news. Consumers are increasingly opting for energy-efficient, star-rated ACs. But high prices remain a significant barrier, especially for lower- and middle-income buyers. A CEEW report, 'Do Residential AC Buyers Prioritise Energy Efficiency?', recommends measures like tax breaks, bulk procurement and cross-brand incentive programmes to improve affordability and encourage wider adoption. The report also highlights another crucial, but often overlooked, factor: good servicing practices (GSPs). Buying an energy-efficient AC is not enough. Without regular servicing, performance declines over the unit's 7-10-year lifespan, undermining expected energy and cost savings. To promote GSPs, awareness campaigns must stress their impact on efficiency. Without this behavioural nudge, tech and policy efforts may not deliver their full potential. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Benchmarked with BSE 1000, this index fund will diversify your bets. But at a cost. Yet another battle over neem; this time it's a startup vs. Procter & Gamble Warren Buffett-fan Pabrai is betting big on Edelweiss' Rashesh Shah. Will it pay off? Move over tariffs, China wields rare earths in an economic war of a different kind Stock Radar: MGL trades above upwards sloping trendline, reclaims 100-EMA; check target & stop loss F&O Radar | Deploy Bull Call Spread in GAIL to play a bullish bet These 7 banking stocks can give more than 20% returns in 1 year, according to analysts Being an Amul shareholder is not possible; the next best dairy sector bets: 4 stocks, different market caps, upside potential is incidental
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Business Standard
12-05-2025
- Business
- Business Standard
India bought 14 mn ACs in 2024: Cooling boom adds to environmental burden
Last year, more than 14 million units of air conditioners (AC) were sold in India. While it will provide comfort to millions of Indian households during scorching summers, it comes at the expense of the environment. Air conditioner purchases are expected to increase ninefold in the coming years, according to an AFP report citing residential ownership forecasts by mid-century. Increasing comfort, declining environment Undoubtedly, ACs have become essential during summer, especially in cities like Delhi, where temperatures can soar to 50 degrees Celsius. Considering rising temperatures, the use of ACs is seen as a basic necessity by those who can afford it. However, this comfort is being met at the expense of larger harm to the environment. The refrigerants inside AC units and the coal-generated electricity that is required to power them contribute heavily to global warming. The widespread use of ACs also increases the outdoor temperatures by expelling indoor heat. According to the World Health Organisation's Health in the Green Economy report, the heat expelled by air conditioning units can raise urban temperatures by at least one degree Celsius. More air conditioners will also increase the demand for electricity, most of which comes from burning coal — a major source of climate pollution. According to the AFP report, India is the world's fastest-growing market for air conditioners, even though only about 7 per cent of homes currently have one. With a population of 1.4 billion, India is already the third-largest emitter of greenhouse gases. In 2024-25, India surpassed the one billion tonne mark in coal production. According to the India Meteorological Department, 2024 was the country's hottest year since detailed records began in 1901, following a global trend of extreme heat fuelled by climate change. In May 2024, a heatwave in New Delhi sent temperatures soaring to 49.2 degrees Celsius — the same as the city's record high in 2022. By 2050, air conditioning is expected to cause a quarter of India's carbon emissions and nearly half of its peak electricity demand, according to the UN Environment Programme's Cool Coalition.
