Rebirth of the cool

The winners of the Global Cooling Prize have been announced.

After a thorough vetting process that unfolded over more than a year, dual winners of the Global Cooling Prize were recently announced. They are team Daikin with partner Nikken Sekkei Ltd and team Gree Electric Appliances, Inc. of Zhuhai with partner Tsinghua University. The manufacturing titans showcased breakthrough technologies. The winners will share the prize of US$1 million (AU$1.3 million). Launched in November 2018, the Global Cooling Prize was an innovation competition to develop a climate-friendly residential cooling solution that can provide global access to cooling without warming the planet. To be eligible for the prize, the competition’s primary criteria stipulated that technology had to demonstrate five times reduction in climate impact against a (conventional) baseline AC unit. “When the Prize launched in 2018, many people, including cooling experts, believed that the 5X climate cooling criteria, as well as the prize’s supplementary criteria, were far too ambitious,” says NexGen America founder Tom Steyer. “But here we are, both [the winners] have not only proven that a 5X technology is possible, but shown that the technology is here today.”

SHATTERING THE CEILING

The prize organisers say the winning teams emerged from the pool of eight finalists after “shattering the perceived ceiling” of performance with their prototypes. When scaled, it is estimated that such technologies could prevent 132GT of CO2e emissions cumulatively between now and 2050, and mitigate more than 0.5°C of global warming by the end of the century. “These technology breakthroughs,” Steyer says, “exemplify the incredible progress that can be made when innovators are mobilised, the right incentives for change are identified, and cross-sectoral stakeholders work together.” Although both teams’ technologies will likely have an initial up-front cost on introduction to the market at two to three times more than the baseline units, it’s estimated life-cycle cost of ownership will be around half that of the baseline unit. Consumers would experience a simple payback on the higher first cost after about three years of operation.

By the numbers

The competition received more than 2,100 registrations from 96 countries, 445 “intent to apply” submissions from 56 countries, and 139 detailed technical applications from 31 countries.

It is estimated that 3.3 billion room ACs will be installed in the world between now and 2050, creating a great need for climate-friendly units.

MARKET TRANSFORMATION

“A market transformation opportunity for the cooling sector is now a reality, which can help combat the warming of our planet,” says Sir Richard Branson. “As this incredible achievement begins to be recognised and applauded, it’s time for regulators to focus on the policies and standards that will help us bring these technologies to the markets.” The prize finalists collectively produce well in excess of 20 per cent of the world’s residential room ACs. Both have committed to bring the technology to market within the next few years. ❚

Want to know more?

To read more about the Global Cooling Prize, go to https://globalcoolingprize.org/