The technology is readily available, people will pay to have access to it. Yet, a lot of people still don’t have this technology made available to them.
In: Economics
To add another wrinkle to the discussion, developing economies often start using more power faster than their existing grids can provide. Household incomes can increase to the point a family can afford an AC unit and AC units consume much more power than a few fans in the home. Multiply that by an entire neighborhood’s worth of AC units and in one summer that neighborhood will exceed the limits of the existing grid. The same applies to businesses and industries that might be bottlenecked from making capital investments to grow. So you get into a chicken/egg scenario where the money for expensive infrastructure investment isn’t available to equitably grow the grid for everyone and the economy can’t grow and expand the tax base or afford the fees without that infrastructure investment.
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