February 27th, 2023 | Our lens
Electrifying Industrial Heat: A Trillion Euro Opportunity Hiding in Plain Sight
Industrial heat is largely invisible to consumers but represents about 20% of global final energy demand and 10% of the world’s CO2 emissions. That is 2.5 times more than air and maritime transportation emissions combined and not far off those of road transportation.
Switching from fossil-based heating systems to those directly powered by renewable electricity in industry can eliminate 100% of CO2 and air pollutants emissions and reduce primary energy demand by up to 70%. It can also deliver a € 1 Tn investment opportunity.