Modi government, Richard Branson just launched $3 million prize money for air conditioner; all you must know

By: |
November 24, 2018 12:58 PM

The international competition has been launched through the Department of Science and Technology and Mission Innovation in collaboration with research institutes namely Rocky Mountain Institute (RMI).

Air conditioning units in use will rise from 1.2 billion to 4.5 billion by 2050.

At a time when global warming is pushing up temperature globally including India, the Modi government has announced the launch of ‘The Global Cooling Prize’ contest to encourage the development of a cooling technology that will have nearly five times less impact on the climate than the standard room air conditioners.

The international competition has been launched through the Department of Science and Technology and Mission Innovation in collaboration with research institutes namely Rocky Mountain Institute (RMI), Conservation X Labs, Alliance for an Energy Efficient Economy (AEEE), and CEPT University. Richard Branson, Virgin Group founder, has been appointed the brand ambassador. More than $3 million will be awarded in prize money over the course of the two-year competition.

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“If we don’t do something about the growing global impact of air conditioning on our climate today, it will derail our best attempts to meet the Paris Agreement goal on emissions. So, I congratulate the Indian government for driving such an ambitious effort to tackle the problem, and encourage all global entrepreneurs to take up this challenge today,” said Richard Branson.

Air conditioning units in use will rise from 1.2 billion to 4.5 billion by 2050. India alone will see over one billion air conditioning deployed in the market by 2050. This increase in demand could add anywhere between 132 to 167 GT of CO2 emissions, cumulatively, between now and 2050.

“There is a tremendous opportunity for cooling to become dramatically more efficient. But, in order for the outcome of the Global Cooling Prize to be successful, we need everybody to partner,” said Jules Kortenhorst, CEO of RMI.

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