The huge boom in many Third World countries, amongst the middle class & even some working class households, for air conditioning is causing a great rise in electricity demand. This will obviously cause thermal coal demand to also grow strongly- & will, eventually, benefit WHC.
This additional net electricity provision, by cheap, reliable baseload power, that only thermal coal can provide, is saving huge numbers of lives amongst elderly people- the most vulnerable to heat-related deaths.bbc.com S.Biswas 28.6.24 said"Over the past five decades, India has faced over 700 heatwaves but this summer’s severe and unrelenting heat has to count among the worst, experts believe. Some 97% of Indian households are electrified, with 93% relying on fans for comfort, according to think tank Council on Energy Environment and Water (CEEW). But this year, India’s air conditioning market has surged like never before...The sale of air conditioners will possibly see an unprecedented growth of 60% this summer in India - March to July - from the usual 25-30% growth in previous years...
Despite only8%(my emphasis) of India’s 300 million households owning air conditioners, with some having multiple units, India is the world's fastest-growing AC market. Of the 170 million units sold globally last year, China purchased 90 million, while India bought 12 million.
The International Energy Agency (IEA), a Paris-based energy think tank, predicts anine-fold rise(my emphases) in home air conditioner ownership in the country by 2050, outpacing growth in ownership of all other household appliances, including TVs, refrigerators and washing machines.
By then, India’s total electricity demand from home air conditioners would surpass Africa’s current total electricity consumption, reflecting the ongoing trends in energy system evolution, according to IEA...
Notably, 95% of Indian air-con buyers are aspirational middle-class first-time purchasers...
Experts say Indian cities have become “heat traps” due to unbalanced development. Nearly a billion (my emphasis) people across 23 states are exposed to heat stress, according to CEEW"
India heat: What record air conditioner sales reveal about heatwave (bbc.com)
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