News Flash

“The Future of Cooling”

We are featuring “The Future of Cooling” report of the International Energy Agency (IEA). PE2’s Alexander Ablaza was one of the resource persons in IEA’s “The Future of Cooling” deep-dive workshop during the Asia Clean Energy Forum 2019, where he presented on innovative EE/ESCO finance to scale-up efficient cooling across emerging and developed economies.

Cooling down is catching on. As incomes rise and populations grow, especially in the world’s hotter regions, the use of air conditioners is becoming increasingly common. In fact, the use of air conditioners and electric fans already accounts for about a fifth of the total electricity in buildings around the world – or 10% of all global electricity consumption.

Over the next three decades, the use of ACs is set to soar, becoming one of the top drivers of global electricity demand. A new analysis by the International Energy Agency shows how new standards can help the world avoid facing such a “cold crunch” by helping improve efficiency while also staying cool.