Source page: McKinsey & Company
Commentary
Power surge
Electric power and natural gas | Renewable energy | Decarbonization
February 6, 2024 – The energy transition has created global demand for technologies that enable electrification, which is likely to play a key role in the race to net zero. Senior partner Harald Bauer and coauthors note that green and carbon-neutral power-generation technologies such as solar photovoltaic, wind, heat pumps, and battery energy storage systems could require significant scaling over the next decade to help meet electricity demand that is projected to increase two-to-threefold by 2050. Click through the interactive to see more.
Interactive
To read the article, see “Global Energy Perspective 2023: Industrial electrification outlook,” January 16, 2024.
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Visual form
Five-panel line chart.
Layout / body structure
The chart steps through five technology panels from left to right, so the reader advances one electrification technology at a time instead of reading a single combined chart.
What is being compared
It compares adoption projections by 2030 for transformers, batteries, solar panels, wind, and electrolyzers.
Measurement system
The measure is projected annual growth rate in percentage terms, shown as a range for each technology rather than one single endpoint number.
Visible structure inside the graphic
Each panel isolates one technology as its own line-based projection view, and the five panels together form a sequence from lower-volatility infrastructure categories to the most extreme-growth case.
Main takeaway from the visual
All five technologies are projected to grow, but the spread in growth expectations is widest and fastest for batteries and especially electrolyzers.
Key standout values or extremes
Transformers are projected at 3 to 6 percent annual growth, batteries 28 to 34 percent, solar panels 4 to 10 percent, wind 8 to 16 percent, and electrolyzers 0 to 67 percent.
Controls / sequence, when applicable
The reader moves through five panels to see each electrification technology in sequence, rather than reading all of the projections in one fixed frame.
Companion media, when applicable
There is no separate companion audio or video; the chart is the full visual on this page.