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Enabling technologies will require significant scaling to realize electrification.

Image description:
A 5-panel interactive line chart shows adoption projections by 2030 of 5 key technologies that enable electrification. From left to right, the technologies and their adoption projections are as follows:
• transformers: projected annual growth between 3 and 6%
• batteries: projected annual growth between 28 and 34%
• solar panels: projected annual growth between 4 and 10%
• wind: projected annual growth between 8 and 16%
• electrolyzers: projected annual growth between 0 and 67%
Footnote: Transformers includes generation, distribution, and transmission transformers.
Source: European Heat Pump Association, GlobalData, International Renewable Energy Agency, and Wood Mackenzie for data until 2021; McKinsey Global Energy Perspective 2023 for data from 2022.
End of image description

Enabling technologies will require significant scaling to realize electrification.

Image description:
A 5-panel interactive line chart shows adoption projections by 2030 of 5 key technologies that enable electrification. From left to right, the technologies and their adoption projections are as follows:
• transformers: projected annual growth between 3 and 6%
• batteries: projected annual growth between 28 and 34%
• solar panels: projected annual growth between 4 and 10%
• wind: projected annual growth between 8 and 16%
• electrolyzers: projected annual growth between 0 and 67%
Footnote: Transformers includes generation, distribution, and transmission transformers.
Source: European Heat Pump Association, GlobalData, International Renewable Energy Agency, and Wood Mackenzie for data until 2021; McKinsey Global Energy Perspective 2023 for data from 2022.
End of image description

Enabling technologies will require significant scaling to realize electrification.

Image description:
A 5-panel interactive line chart shows adoption projections by 2030 of 5 key technologies that enable electrification. From left to right, the technologies and their adoption projections are as follows:
• transformers: projected annual growth between 3 and 6%
• batteries: projected annual growth between 28 and 34%
• solar panels: projected annual growth between 4 and 10%
• wind: projected annual growth between 8 and 16%
• electrolyzers: projected annual growth between 0 and 67%
Footnote: Transformers includes generation, distribution, and transmission transformers.
Source: European Heat Pump Association, GlobalData, International Renewable Energy Agency, and Wood Mackenzie for data until 2021; McKinsey Global Energy Perspective 2023 for data from 2022.
End of image description

Enabling technologies will require significant scaling to realize electrification.

Image description:
A 5-panel interactive line chart shows adoption projections by 2030 of 5 key technologies that enable electrification. From left to right, the technologies and their adoption projections are as follows:
• transformers: projected annual growth between 3 and 6%
• batteries: projected annual growth between 28 and 34%
• solar panels: projected annual growth between 4 and 10%
• wind: projected annual growth between 8 and 16%
• electrolyzers: projected annual growth between 0 and 67%
Footnote: Transformers includes generation, distribution, and transmission transformers.
Source: European Heat Pump Association, GlobalData, International Renewable Energy Agency, and Wood Mackenzie for data until 2021; McKinsey Global Energy Perspective 2023 for data from 2022.
End of image description

Enabling technologies will require significant scaling to realize electrification.

Image description:
A 5-panel interactive line chart shows adoption projections by 2030 of 5 key technologies that enable electrification. From left to right, the technologies and their adoption projections are as follows:
• transformers: projected annual growth between 3 and 6%
• batteries: projected annual growth between 28 and 34%
• solar panels: projected annual growth between 4 and 10%
• wind: projected annual growth between 8 and 16%
• electrolyzers: projected annual growth between 0 and 67%
Footnote: Transformers includes generation, distribution, and transmission transformers.
Source: European Heat Pump Association, GlobalData, International Renewable Energy Agency, and Wood Mackenzie for data until 2021; McKinsey Global Energy Perspective 2023 for data from 2022.
End of image description