Investment opportunities in space cooling to be US$ 1.5 trillion by 2040 in India
- IBEF
- December 1, 2022
In India, the market potential and investment prospects in space cooling will be US$ 1.5 trillion by 2040. As a result, the government must build an adequate enabling investment structure capable of attracting private-sector financing, according to a World Bank research. According to the paper "Climate Investment Opportunities in India's Cooling Sector," by 2050, space cooling will account for 45% of the country's peak electricity demand.
Every year, the temperature in India rises. According to the report's findings, by 2030, around 160-200 million people in the country could be subjected to lethal heat waves on a yearly basis. According to Mr. Auguste Tano Kouame, the World Bank's Country Director in India, India's cooling plan can help preserve lives and livelihoods, cut carbon emissions, and position India as a global hub for green cooling manufacturing.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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