Signify champions innovative technologies at first World Solar Technology Summit

 

November 3, 2020

 

Signify CEO Eric Rondolat spoke at the Global CEO Session about the ways that solar power technologies can help meet an increasing global demand for energy

 

September 8 this year was noteworthy for two reasons:

Solar power fields

International Solar Alliance

 

The World Solar Technology Summit was a virtual opportunity for renewable energy stakeholders to connect on innovations in solar technology and build momentum for the shift toward more sustainable growth.

The Global CEOs session was moderated by Jeanette Rodriques, from Bloomberg News, and included six CEOs from the lighting, engineering, and banking sectors.

 

The topic was “How an innovation ecosystem could be promoted to expand the solar energy landscape worldwide.” The different CEOs shared their vision and challenges on scaling solar and other renewable energy and storage to reach a sustainable energy scenario.

 

Our CEO Eric Rondolat took the opportunity to show the role solar lighting can play.

Solar lighting reduces light poverty

 

When Eric joined Signify in 2012 there were around 1.1 billion people in the world living without electricity. Today the figure is around 840 million. Access provided by the Indian government has helped facilitate this reduction, but more work remains to be done.

 

In India, Signify solar lighting can be found in more than 30,000 villages. That’s good news, but there’s more work to be done; there are 629,000 villages in India alone. To achieve lighting in these villages requires both:

  • Centralized solar systems – power from solar parks fed into the grid.
  • Distributed solar power – solar power from panels on rooftops and street lighting poles as well as solar lanterns.

 

Access to financing and newer business models can transform communities and secure significant socio-economic results. As Eric said, “This is an investment of $1 billion a year for universal access by 2030. That should be our goal.”

Solar panal aerial

Why solar power


The development of solar power technologies is one of many ways to help meet an increasing global demand for energy. Since the Paris Agreement was signed, wind and solar have doubled their share of global electricity generation.

 

Sustained action is still necessary to meet climate targets. Even with a rapid drop in solar technology costs in recent years, the overall costs remain high. Incentives and subsidies, are critical for the expansion of the solar energy market. However to cut the overall burden the solar energy market need solutions in innovative approaches.

Since the Paris Agreement was signed, wind and solar have doubled their share of global electricity generation"

In total, 26,000 people participated in this summit, which was inaugurated by Indian Prime Minister Shri Narendra Modi. It was a welcome industry-wide coming together, showing that solar technologies have a big role to play in meeting the growing global demand for energy.

About the author:

Imaan Faruqui

Imaan Faruqui

 

Global Integrated Communications

For further information, please contact:

Signify Global Integrated Communications
Neil Pattie
Tel: + 31 6 15 08 48 17
Email: neil.pattie@signify.com

About Signify

 

Signify (Euronext: LIGHT) is the world leader in lighting for professionals, consumers and the Internet of Things. Our Philips products, Interact systems and data-enabled services, deliver business value and transform life in homes, buildings and public spaces. In 2023, we had sales of EUR 6.7 billion, approximately 32,000 employees and a presence in over 70 countries. We unlock the extraordinary potential of light for brighter lives and a better world. We have been in the Dow Jones Sustainability World Index since our IPO for seven consecutive years and have achieved the EcoVadis Platinum rating for four consecutive years, placing Signify in the top one percent of companies assessed. News from Signify can be found in the Newsroom, on X, LinkedIn and Instagram. Information for investors is located on the Investor Relations page.

Meydan Bridge

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