What is the future of DistrictSystems?Cooling
Traditional cooling methods are being replaced by newer more efficient cooling systems i.e district cooling systems. The traditional methods are more energy intensive and expensive.
According to recent studies, with an estimated CAGR of 3% during the projected period, the market share of district cooling systems is expected to reach US$ 1.28 billion by 2032.
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Most places experience high energy demands throughout the day- during the morning for workplaces and the night for residential complexes which is expected triple in the next 30 years(mostly for developing countries) as global warming increases. As the global concerns for environmental pollution and the rising temperature increase, governments all over the world are implementing more sustainable methods of energy utilisation.
“ Factors supporting the growth of the District Cooling industry: ❖ Need for energy-efficient technologies to meet the demands of the construction boom ❖ To accomplish energy-saving targets ❖ Need for sustainable building solutions 4
Role of Governments is Crucial : ❖ The implementation of district cooling requires significant planning to aggregate demand. ❖ There need to be proper measures in place to protect consumers. ❖ The economic benefits need to be equally distributed along the value chain. 5
❖ District cooling should be made mandatory in applicable situations ❖ Operators, providers and retailers should be licensed ❖ Certain standards need to be in place for the service and technical side ❖ Develop contractual frameworks ❖ Tendering process should be competitive ❖ Prices should be regulated
Biggest challenges faced during the implementation of eco-friendly cooling systems is the inability to consolidate demands by real estate developments.
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GCC countries represent a significant exception, because compared to the rest of the world, penetration rates of district coolers and water chillers are higher than the rest of the world. Consequently, district cooling plant job vacancies are also high in this region.
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Asian markets like India have developed ambitious projects like Smart Grid & Smart Cities to drive the district cooling market.
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