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:
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.
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:
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.”
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.
Signify (Euronext: LIGHT) is the world leader in lighting for professionals and consumers and lighting for the Internet of Things. Our Philips products, Interact connected lighting systems and data-enabled services, deliver business value and transform life in homes, buildings and public spaces. With 2019 sales of EUR 6.2 billion, we have approximately 37,000 employees and are present in over 70 countries. We unlock the extraordinary potential of light for brighter lives and a better world. We achieved carbon neutrality in 2020 and have been named Industry Leader in the Dow Jones Sustainability Index for three years in a row. News from Signify is located at the Newsroom, Twitter, LinkedIn and Instagram. Information for investors can be found on the Investor Relations page.
