Signify proposes that the EU join the 'Race To Zero' campaign

Expected to save 40 billion euros in electricity costs annually

Signify (formerly Philips Lighting), a global lighting company leading the lighting industry, has proposed that the EU join the 'Race To Zero' campaign to achieve carbon neutrality by switching to LED lighting.

Signify recently released research findings showing that upgrading the EU's existing lighting to LED lighting could make it possible to achieve Net-Zero carbon neutrality by 2050. Based on these findings, Signify stated that replacing the EU's existing 2.3 billion light points—estimated to account for about 10% of total electricity consumption—with LED lighting could cut carbon emissions by 50.9 million tons. This is comparable to the amount of carbon sequestered in one year by a forest of 2.3 billion trees.

In addition, it would be possible to save 188.5 TWh of electricity—equivalent to the annual consumption of 51.8 million households, more than a quarter of all households in the EU—which is expected to save 40 billion euros in electricity costs annually across the 27 EU member states. Signify also noted that, on average, 18 jobs are created in the EU for every 1 million euros invested in green renovation to save energy in buildings.

In particular, replacing the lighting used in offices, industrial complexes, roads, parks, shops, and hotels with professional LED lighting could reduce carbon emissions by 42 million tons. A key feature is that this can be implemented most quickly without interrupting the green renovation process of buildings. Additionally, if all EU citizens replaced the lighting they use at home with LED lighting, it would be possible to cut carbon emissions by 8.9 million tons annually.

Signify emphasized that, to upgrade professional lighting—where the greatest impact is expected—the EU must more than double the green renovation rate of buildings to 3% per year in order to convert existing lighting to smart LED lighting. In addition, it added that a related promotional program should be rolled out across the EU to inform general consumers of the environmental and economic benefits of switching to LED lighting in their homes.

Indeed, according to the '2050 Net Zero' report recently published by the International Energy Agency (IEA), "to achieve carbon neutrality, 100% of LED bulb sales worldwide must be reached by 2025," adding that "minimum energy performance standards (MEPS) should be complemented through smart control of home appliances."

Harry Verhaar, Head of Global Public and Government Affairs at Signify, said, "Signify's research findings offer the EU an opportunity to achieve its carbon neutrality goals and stimulate its national economies," adding that "to make this a reality, the green renovation rate of buildings must be accelerated to 3% per year." He also emphasized that "switching to LED lighting allows the initial investment to be recouped within two years, making it the easiest way to contribute to a brighter future for the planet and Europe, as well as to job creation."