The very first Global Cooling Innovation Summit will see the launch of the Global Cooling Prize. The Prize encourages development of a residential cooling device with low climate impact to meet future demands for cooling. Innovators across the globe are invited to drive a technology revolution to provide cooling to all, without warming the planet.
To win the prize, some criteria must be fulfilled. Most importantly, the prize seeks development and innovation leading to a product with only one fifth of the climate impact compared to current standard products. Other criteria concern e.g. affordability, power draw, water usage and scalability.
The launching Summit is held in New Dehli, India on the 12th-13th November. It will bring together leaders from around the world to explore concrete means and pathways to address the threat caused by a globally increased demand for residential cooling.
After the launch, applications will be accepted until August 2019. The most interesting ideas will get support for development, and the final award ceremony will be held in the end of 2020. It is estimated that a successful technology, when scaled up, will have the potential to save 100 gigatons of carbon by 2050. This in turn could prevent 1 degree C of global warming by 2100. At the same time, the technology allows for a better standard of living for people around the globe.
The Global Cooling Prize is established by a global coalition led by Rocky Mountain Institute (RMI), Conservation X Labs, Alliance for an Energy Efficient Economy (AEEE), and CEPT University and supported by Mission Innovation and the Ministry of Science and Technology, Government of India.
Read more about the prize: globalcoolingprize.org.