Albedo rises, which means that the sun's rays are reflected more efficiently into space, meaning less of the sun's heat remains trapped on the Earth's surface.
For buildings, the roofs not only reflect these rays into space, but the white paint reflecting these rays also means they are not absorbed. This means the building's roof and ultimately the building itself, cools down. According to the following paper, "It was found that painting the roof surface with white solar-reflective paint is a very efficient way to reduce heat discomfort conditions for a single-story building located in cities with hot/humid and hot/dry climates." (page 11, 4. Conclusions, § 1, line 2 of source)
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