Findings from Signify (Euronext: LIGHT), a world leader in lighting, show that in the EU, where lighting is estimated to account for around 10% of total electricity consumption, upgrading conventional LED lighting represents a major opportunity to help the European Union achieve zero carbon emissions by 2050. Such a transition will further help all 27 Member States meet the objectives of the Europe Green Agreement and meet their commitments under the Paris Agreement.
Upgrading the existing 2.3 billion conventional luminaires in the EU to LED luminaires will reduce CO2 emissions by 50.9 million tonnes . This equates to the amount of CO2 that would be consumed by 2.3 billion trees a year - a forest larger than the United Kingdom. The electricity saving would be 188.5 TWh, which corresponds to the annual consumption of 51.8 million households, ie more than a quarter of all households in the EU. This means annual electricity cost savings of € 40 billion in all 27 Member States. In addition, for every € 1 million invested in the energy renovation of buildings, an average of 18 jobs will be created in the EU .
The biggest opportunity is the modernization of professional lighting, which includes lighting in offices, industrial complexes, roads, parks, shops and hotels, with the potential to reduce CO2 emissions by 42 million tonnes. In addition, it is one of the fastest and easiest parts of building renovation, which also brings the highest electricity savings of all replacement technologies.
In addition, if EU citizens modernized all lighting in residential buildings, CO2 emissions would be reduced by 8.9 million tonnes per year.
Given that the greatest opportunity is in the professional segment, Signify calls on the EU to more than double the pace of building renovation to 3% per year and switch to intelligent LED lighting . This should be accompanied by a Europe-wide consumer information program explaining the environmental and economic benefits of switching to LED lighting in their homes.
The transition to LED lighting reflects the views expressed by the International Energy Agency (IEA). In its recent report "NetZero by 2050", it recommended that sales of LED bulbs "reach 100% by 2025 in all regions" of the world and that minimum energy performance standards be accompanied by intelligent appliance management.
"The urgency of climate action has increased over the past year," said Harry Verhaar, global head of public relations and government at Signify. "Our findings show that the move to interconnected LED lighting provides the EU with a unique opportunity to help meet its emissions reduction targets and stimulate national economies. The key to achieving this goal is to accelerate the pace of building renovation to 3% per year. When switching to LED lighting, the initial investment pays off in less than two years. This is a clear step for the planet, Europe's digital future and job creation. "
Read more about Signify's actions that can help speed up the implementation of the EU Green Deal and visit our Green Switch website.