机构研究报告-Electrification worldwide-外文版培训课件

INDUSTRIES

&

MARKETSElectrification

outlookworldwideSpotlight

reportIs

the

world

going

to

meetthe

electrification

requirements

for

decarbonization?Key

questions

answered

inthisreport123How

muchelectricityisconsumed

globally?Willtheelectrification

targets

fordecarbonization

bemet?What

isthecurrentandrequired

level

ofinvestmentinelectrification?•

Global

power

consumption

was

27petawatt-hours

in2023

andisforecast

toreach

33

petawatt-hours

by2030.•

Inanet-zero

emissions

scenario,

globalelectricity

consumption

is

required

tosurpass

40

petawatt-hours

by2030.•

Global

investmentinclean

electrification(incl.clean

energy

sources)

amounted

to1.35

trillionU.S.

dollarsin2023.•

10

percentoftheglobalpopulationdid

nothaveaccessto

electricityin2024.•

Theglobalelectrification

raterequirement

is30

percentby2030.•

Projections

show

thatthisfigurewill

reach1.65

trillion

U.S.dollars

by2030.•

Onlyaround

20

percent

of

the

total

energy

•

Theelectrification

rateof

the

buildings•

Required

electrification

spending

inthetransportation

sector,

heating,andpowergridsinanet-zero

scenario

isestimated

tosurpass2.5

trillionU.S.

dollars

peryear.used

inthe

world

was

electricity,thoughthatshare

isforecast

toreach

23

percentby2030.andindustrial

segment

mustdouble

by2030,

while

the

transportation

sector

mustincrease

itselectrification

rate50-fold.2How

much

electricityisconsumed

globally?1Fossil

fuels

dominate

global

electricity

generationElectricity

consumption

andsources

ofelectricity

production

inthe

worldElectricity

consumption

worldwide

from

1980

to

2023(interawatt-hours)The

globalelectricity

consumption

is

constantly

increasing

asmore

people

gainaccess

to

electricity.

Commercial

sectors,

such

as

transportation

and

heating,areslowly

replacing

fossil

fuel

technologies

with

electricity

–

a

process

that

goes

by

thenameof

electrification.

Whilerenewable

energy

consumptionshows

a

positivetrend

across

the

board,

the

electricity

sector

is

still

dominated

by

fossil

fuels.

In2023,

coal

generated

over

one-third

of

the

total

electricity

worldwide,

whereas

lessthan

30

percent

of

thepower

consumed

came

from

renewable

sources.1980199020002010202030,00020,00010,0000Compared

tofossil

fuelcombustion,

clean

electricity

presents

severaladvantagesincluding

cost

reduction,

asrenewable

energy

sources

havesome

ofthe

lowest

levelized

costsof

electricity

(LCOE),nodependency

on

the

global

fossilfuel

market,

and

limited

tono

greenhouse

gasemissions.

However,renewablepower

plantscontinueto

havealower

capacity

factorand

capacityutilizationfactorcompared

toconventional

plants,which

entailshighersystem

costsandgapsbetween

thepower

generation

capacityandthe

peak

power

demand.Electricity

generation

worldwidein

2023,

byenergy

source(interawatt-hours)10,479.4Coal6,635.14,197.92,677.9Nuclear

energy2,303.0Windenergy1,628.3Solarenergy678.8Bioenergy788.889.9Natural

gasHydropowerOtherfossil

fuelOtherrenewable3Notes:(1)

Worldwide;

1980

to

2023;

(2)

Worldwide;

2023;

hydro

includes

pumped-hydro

generation;

solarincludes

photovoltaic

and

solarthermalenergy;other

fossil

includes

oil,

petroleum

products,

manufactured

gases,andwaste;

otherrenewables

includes

geothermal,tide,

and

wave

powerSources:

(1)

EIA;

ID:280704;

(2)

Ember;

ID:273273;

Text:EnergyInstitute;

Kearney;KPMG;ID:274101;

UN;ID1262946;

BloombergNEF;ID:1115401;

Deutsche

BankHow

much

electricityisconsumed

globally?1Electricity

access

disparitiesElectricity

consumption

andelectricity

access

aroundtheworldNumber

of

people

without

access

toelectricity

worldwidefrom

2010

to2024,

byregion(inmillions)In2023,

over

730

million

people

in

theworld

werenotconnected

to

thepower

grid,mostly

thoselivinginSub-SaharanAfricancountries

suchasSouthSudan

andthe

Democratic

Republic

ofCongo.

Unequal

infrastructuraldevelopmentmeans

thatgeographical

disparitiesinterms

ofelectricity

consumption

are

stillwide.1,4031,3501,4001,2001,00080060040020001,3281,2881,2301,1491,096997866Electricity

distributionrequires

apower

gridresilient

toextreme

weather

and

climate

change-related

events.

Tofacilitatetheclean

energytransition,theymust

alsobeequippedwith

energystorage

facilitiestostabilizethesupply

of

weather-dependent

renewable

energy.795757756761749737Thistransition

to

clean

energy

sources

andenhanced

energy

efficiency

isacrucial

step

forthedecarbonization

of

bothdeveloped

anddeveloping

countries.2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024Sub-SaharanAfrica

DevelopingAsia

Restof

world4Notes:Worldwide;

2010

to

2024Sources:

IEA;

ID:829803;

Text:Deutsche

Bank;IEA;

IRENA;

UNSD;

WHO;

WorldBank;

ID:264631How

much

electricityisconsumed

globally?1Only

a

smallshare

of

energy

consumed

is

electricityElectricity

shareof

the

total

globalenergy

consumptionCountries

andterritories

ranked

by

highest

and

lowest

electrification

rateworldwidein

2023Onlyapproximately

20percent

of

the

energy

consumed

inthe

world

in

2023

waselectricity,

with

the

highest

valuesrecorded

inAsia,namely

China

andJapan,

andNorthern

Europe.

InAfrica,theshareof

electricity

out

ofthetotalenergyconsumption

was

below

10

percent,

withalow

of

1.6

percent

inNigeria.46.5%32.0%31.6%29.9%10.7%29.7%TheNet-Zero

Emissions

(NZE)

scenario

bytheInternational

Energy

Agency

(IEA)presents

thepathwaytoreach

net-zero

carbon

dioxide

emissions

fromtheenergysector

by

2050,

with

a50

percent

probabilityof

limitingtheglobal

temperatureincrease

to

1.5

degrees

Celsiusby2100,

compared

topre-industrial

levels.NorwayTaiwanSwedenJapanIranChina13.3%13.0%11.6%1.6%Itwas

estimated

inthe

NZE

thatelectrification

alonewould

accountfor20

percentof

the

carbon

dioxide

emission

reductions

between

2022

and2050.RussiaAzerbaijanIndonesiaNigeriaBy

region25.2%22.6%22.2%21.4%20.1%14.9%14.0%CIS9.6%AsiaPacificNorthAmericaEuropeLatinAmericaMiddleEastAfrica5Notes:(1)

(2)

(3)

Worldwide;

2023;

CIS

(Commonwealth

ofIndependent

States)was

formedafterthe

dissolution

ofthe

SovietUnion.

It

includes

Azerbaijan,

Armenia,

Belarus,Kazakhstan,

Kyrgyzstan,

Moldova,Russia,

Tajikistan,

andUzbekistanSources:

(1)

(2)

(3)

Enerdata;ID:1446211;

ID:1446243;

ID:1446244;

Text:IEA;

ID:1425807;

IRENA;

ID:1498992Willtheelectrificationtargets

fordecarbonization

be

met?2The

future

is

(more)

electricProjected

electricity

consumption

indifferent

scenariosForecast

electricity

consumption

worldwidein2030

and2050(inpetawatt-hours)Withgrowing

electricity

access

indeveloping

countries

and

theelectrification

ofmajor

sectors

oftheeconomy,

global

electricity

useisset

toincrease

considerablyfrom

current

consumption.

According

to

arecent

forecast,

92

percent

oftheglobalpopulationwill

haveaccess

to

electricity

by2030.

Thisstillleaves

over

650

millionpeople

remaining

without

access

tothis

commodity,

however.40Inascenario

based

on

the

achievement

of

nationalclimate

targetsby2030,

andaglobal

warming

between

two

and

2.5

degrees

Celsius,electricity

consumption

willgrow

by

approximately

25

percent

between

2022

and

2030

and

byanother

70percent

by2050.33365771Still,projections

based

onatemperature

increase

between

1.5

and

1.6

degreesCelsiusby2100

show

thatelectricity

consumption

should

rangebetween

36

and40

petawatt-hours

in2030

andreach

70

petawatt-hours

by2050.

Themajordrivers

of

thisincrease

will

beemerging

anddeveloping

economies,

with

ChinaandIndia

inthe

lead.

Electricity

consumption

growth

indeveloped

economies

willbelesspronounced,

becauseof

aslowdown

ofthemanufacturingsector

andincreased

energy

efficiency.

Datacenters,

air-conditioning,

and

climate

changeadaptation

will

exacerbate

power

consumption

volumes.20302050National

pledges

(2-2.5°C)Achieved

commitments

(1.6°C)1.5°C

trajectory6Notes:(1)

Worldwide;

2024;

excluding

inputs

and

losses

in

energytransformationsector;figures

in

the

EnerBlue

scenario,based

on

the

achievement

ofnational

pledges

for2030

and

leading

to

aglobal

temperatureincreasebetween

2.0°C

and

2.5°C;

figures

wererounded;

(2)

Worldwide;

2023;

temperatureincrease

is

by

2100

versus

topre-industrial

levels;

Achieved

Commitments:

net-zero

commitments

achieved

by

leading

countries

throughpurposeful

policies;

follows

transition

at

slowerpace;global

temperature

increase

linked

to

emission

levels:

1.6°CSources:

(1)

Enerdata;

ID:1534860;

(2)

IEA;

IRENA;

McKinsey

&Company;

ID:1426308;

Text:EIA;

ID:280704;

EIA;

ESMAP;

WorldBank;ID:1473420;

IEA;

ID

829803;

IEAWilltheelectrificationtargets

fordecarbonization

be

met?2The

electric

path

to

decarbonizationElectricity

generation

requirements

formitigatingclimate

changeForecast

shareof

electricityout

of

finalenergyconsumption

worldwidein

2030

and2050,

byscenarioProjected

electricitygeneration

worldwide

in

2030,2040,

and

2050,

bysource(in1,000

terawatt-hours)Theshareof

the

total

energy

consumption

intheworld

attributabletoelectricity

was

forecast

toremainbelow

30

percent

in2050

inascenario

basedonplannednationaltargetsandactivepolicies.

However,the

electrification

requirements

formaintainingtheglobal

temperature

increase

below

1.5

degrees

Celsiusby2100

were

considerably

higher:

over

50

percent

by2050.

Therenewable

energy

shareof

the

totalelectricity

generation

is

anothercrucial

element

fordecarbonization.

Ina1.5

degrees

Celsiusscenario,

therenewable

energy

sharewould

need

toreach

70percent

by2030

and

90

percent

by2050.

Asof2023,the

contribution

of

renewables

incurrent

energypolicies

is

farfrom

meeting

the

global

needs.1.5°C

scenario0.063.308.27400.113.187.1928%52%0.3830201003.026.64Planned

Energy

Scenario21.0716.8912.5423%

30%9.179.389.61Electricity

production

from

conventional

sources

is

stillexpected

toincrease

slightlybetween

2030

and

2050andwould

continuetoaccountforaconsiderableshareof

theelectricity

generation

worldwide

in2050.20302040205020302050CoalNuclearenergyRenewablesLiquidfuelNaturalgas7Notes:(1)

Worldwide;

2024;

Planned

EnergyScenariobased

ongovernments'

energyplans;

1.5°Cscenario

shows

the

figures

necessaryto

limit

the

temperature

increaseto

1.5°Cby

the

end

ofthe

century;

(2)

Worldwide;

2022;figures

areprojections

based

onareference

scenario

which

reflectcurrentenergytrends,

existing

laws,

and

regulations,

and

select

incremental

economic

and

technological

changes

overtimeSources:

(1)

IRENA;

ID:

1417905;

(2)

EIA;

ID:238610;

Text:EIA;

IRENA;

ID:1309329Willtheelectrificationtargets

fordecarbonization

be

met?2Great

expectationsShareof

electricity

consumed,

bysectorShareof

electricityin

final

energyconsumption

worldwidein2022

withforecastrequirements

for2050,

bysector(asapercentage)Global

industrialactivities,buildings,

and

thetransportation

sector

each

consumearound

120

exajoules

of

energy

peryear.

Over

one-third

of

the

energy

usedinresidential

andcommercial

buildings

is

electricity,

compared

toonlyaround

onepercent

intransportation.

Thisisdespitethe

sales

of

electric

vehicles

growing

byapproximately

35

percent

year-over-year.Buildings35%70%Tomeet

theNZE

by2050

global

decarbonization

goal,thepaceofelectrificationmustincrease,

especially

insectors

with

thehighestelectrification

margin

andpotential.

Intensified

efforts

areneeded

intransportation,thebuilding

sector,

andlow-temperature

heat

industrialprocesses.

Forinstance,buildings’electrificationratewould

haveto

reach

70

percent

in2050,

doublingcompared

to

2022

levels.Electrically

powered

cooling

and

heating

devices,

suchaselectric

heat

pumps,electrified

district

heating,and

smart

home

appliances,are

some

of

theservicesthatcould

beincentivized

for

boosting

the

sector's

electrification.

Inthetransportation

sector,

the

overall

shareof

electricity

consumption

would

havetosurpass50

percent

ofthetotalenergy

by2050.Industrial23%49%Transportation1%51%202220508Notes:Worldwide;

2022;

according

toNet-Zero

Emissions

scenario,which

assumes

a

global

temperatureincrease

limited

to

1.5°CSources:

IEA;

ID:1440351;

ID1440573;

ID:1440579;

Text:IEA;

ID:482733;

IRENA;

IEA;

ID:1387913;

IEAWilltheelectrificationtargets

fordecarbonization

be

met?2Theenvironmental

potential

of

heat

pumpsSalesandnumberof

heatpumpsworldwideCapacity

of

heat

pumpssold

in

selected

regionsandcountries

worldwidefrom

2019

to2023(ingigawatts)Number

of

heatpumps

in

the

industrial-and

building

sector

worldwidein

2020,withforecasts

for2030

and2050(inmillions)Heat

pumpshavethe

highest

potential

to

reduceemissions

from

buildings.

Over

fivetimes

moreefficient

thanotherheating

technologies,

heatpumpscanbefullypowered

byrenewable

electricity.120I

N

D

U

S

T

R

I

A

L

S

E

C

T

O

RAsof

2023,

renewable

electricity

covered

30

percent

oftheirenergy

consumption,

butthisfigureshould

reach57

percent

by2030

intheNZE

by2050

scenario.14147100806040200137833568010711731Over

the

pastfiveyears,

the

capacity

ofheat

pumpshasincreased

by30

percent.

Still,projections

indicatethatthenumberof

heatpumpsdeployed

by2030

and2050

bythe

current

jointefforts

would

beapproximately

fivetimes

smaller

thanthe

globalrequirements

forlimitingglobal

warming

to1.5degrees

Celsius

bytheendof

the

century.352732193128B

U

I

L

D

I

N

G

S28142413235097

44720301567933028262019202020212022202320202050UnitedStatesJapanEuropeanUnionRestof

theworldChinaPlanned

Energy

Scenario1.5°C

scenario9Notes:(1)

Worldwide;

2019

to

2023;

(2)

Worldwide;

2023;

Planned

EnergyScenariobased

ongovernments'

energyplans;

1.5°C

scenarioshows

the

figures

necessarytolimit

the

temperature

increaseto

1.5°C

by

the

end

ofthe

centurySources:

(1)

IEA;

ID:1499794;

(2)

IRENA;

ID:1499777;

Text:IEA;

ID:1400310Willtheelectrificationtargets

fordecarbonization

be

met?2Electric

vehiclesDemand

andsalesof

electric

vehicles

(EV)worldwideGlobal

electricvehiclebattery

demandfrom

2016

to2023(ingigawatt-hours

peryear)Global

electricvehiclesales

in

2023,

withaforecast

for2030

and2035

based

on

threedifferent

scenarios(inmillions)The

demand

for

electric

vehicle

batterieshas

increased

almost

four-fold

since

2020,reaching

770

gigawatt-hours

in

2023.There

were

EV

sales

of

over

14

millionthat

year,

and

salesare

forecast

to103.7772increase

up

to

100

million

by

2035

in

theNZE

by

2050

scenario.

In

an

active

policiesscenario,

projected

EV

sales

appear

to

beon

track

for

reaching

energy

transitioncommitments

by

2030

(AnnouncedPledges

Scenario),

as

global

EV

leaderssetambitious

targets

to

electrify

the78.170.463.555449.345.033114.2transportation

sector.

In

2035,

however,the

gap

betweenthe

figures

is

expectedto

grow.

The

limited

number

of

charginginstallations

for

EVs,

EV

accessibility,

andEV

performance

are

the

main

obstacles

tothe

growth

of

the

sector.165202320302035StatedPoliciesScenarioAnnouncedPledgesScenarioNet-ZeroEmissionsby2050Scenario2020202120222023ated

Policies

Scenario

accounts

forpolicies

that

areactive

and

under

development

asofAugust

2024;

Announced

Pledges

Scenario

assumes

that

all

energytransition;in

the

Net-Zero

Emissions

Scenario,net-zero

emissions

ofthe

energysectorare

achieved

by

2050

limiting

globaltemperature

increase

by

1.5°C

comparedtopre-industrial

levelsSources:

(1)

EV-V;

IEA;

ID:1103229;

(2)

IEA;

Statista;ID:1499987;

Text:IEA;

ID:1314914Whatisthecurrent

andrequired

level

ofinvestment

inelectrification?3China‘s

significant

clean

energy

investmentCleanenergy

investment

worldwide

bycountry

and

sectorEstimated

spending

in

cleanenergyinfrastructureworldwide

in

2024,byselect

regionor

country(in2023

billionU.S.dollars)China

isthe

largest

carbon

dioxideemitter

inthe

world,

yet

thecountry

alsoaccounted

forthelargest

investment

inrenewables,

electrification,

and

cleanenergy

production

and

storageasof

2024.

Thecountrydominated

inthe

globalbattery

manufacturingmarket,

the

electric

vehicles

market,

andsolarmoduleproduction

in2023,

and

despite

beingone

of

the

most

electrified

countries

intheworld

in2023

(see

page5),

China’sexpenditure

onpower

grids,energy

storage,

andclean

energy

end-use

sectors

(includingindustryand

transportation)

was

amongthe

highest

inthe

world.China659European

Union410United

States300TheEuropean

Union

followed

with

acumulativeclean

energy

infrastructureinvestment

of

some

400

billion

U.S.dollars.

Bycomparison,

Africa,the

leastelectrified

region

intheworld,

accounted

forone

ofthesmallest

sharesof

cleanenergy

investment,

along

with

Southeast

Asia.LatinAmericaRenewablepower84PowergridsandstorageNuclearandothercleanpowerEnergyefficiencyandenduseLow-emissionfuelsIndia81Althoughnotlarger

thanclean

energy

investments,

the

global

expenditure

on

fossilfuels

in2024

was

stillsignificant.Itamounted

to

185

and197

billion

U.S.

dollarsinChina

andthe

United

States,respectively.Africa43Southeast

Asia38010020030040050060070011

Notes:Worldwide;

asofMay

2024;

low-emission

fuels

include

modernbioenergy,

low-emission

hydrogen-based

fuels,

and

fossil

fuels

with

carboncapture

and

storageSources:

IEA;

ID:1479213;

Text:EDGAR/JRC;IEA;

ID:500524;

S&PGlobalMarketIntelligence;

ID:1483282;

CPCA;

EV-V;

IEA;

ID:1236625;

IEA;

PVPS;RTSCorporation;ID:668749Whatisthecurrent

andrequired

level

ofinvestment

inelectrification?3Global

clean

energy

investment

needs

to

doubleCurrent

and

required

clean

energy

investment

bycountryInvestments

in

cleanpower,cleanfuels,

andenduse

worldwidein2024,

withrequirements

by2030

in

the

Net-Zero

Emissions

(NZE)

scenario,

bycountry

or

region(inbillionU.S.dollarsperyear)Global

clean

energy

investments

areprojected

to

more

thandoublebetween2024

and

2030

inthe

NZE

scenario.

InChina,

investment

needs

inthe

end-usesector

(referring

toelectrification

and

energy-efficiency)

areestimated

toreachupto

396

billion

U.S.dollarsby2030

–

anincrease

of40

percent

compared

to2024

(see

page11).ChinaUnitedStatesEuropeanUnionJapanandKoreaIndiaThegap

between

current

clean

electrification

investment

and2030

needs

fortheNZE

scenario

iseven

wider

intheUnitedStates,where

an85

percent

increase

isrequired

toreach

aspending

of366

billion

U.S.dollars

by2030.Itwas

estimated

thatby2031,

over

600

billion

U.S.dollars

intaxcreditsanddirectspendingwould

beallocated

inclimate-related

provisions

inthe

United

Statesunderthe

2022

InflationReduction

Act(IRA).

However,

inNovember

2024,

theincoming

President

Trump

claimed

thatunutilizedIRAfundswould

beredirectedtoothersectors

underhisadministration.LatinAmericaAfricaMiddleEastSoutheastAsiaRestof

theworld02004006008001,00020242030End-use(NZE)2030Cleanpower(NZE)2030Cleanfuels(NZE)12

Notes:Worldwide;

2024;

estimated

values

in

Net-Zero

Emissions

by

2050

scenario;end-use

includes

energyefficiency

and

electrificationSources:

IEA;

ID:1480538;

Text:Andrew

and

Peters;

Global

CarbonProject;

Friedlingstein

etal.;

ID:270499;

BrookingsInstitution;

ID:1417761;

CRFB;ID:1418048Whatisthecurrent

andrequired

level

ofinvestment

inelectrification?3Clean

electrification

investment

worldwideInvestment

inclean

electrification

worldwideGlobal

cleanelectrification

investment

from

2020

to2023,

withaforecast

for

2030(intrillionU.S.dollars)Cleanelectrification

expenditure

accountedforthe

largest

shareof

the

two

trillionU.S.dollars

of

funds

allocated

forclean

energy

worldwide

asof

2023.

Global

cleanelectrification

investment

experienced

a40

percent

growth

between

2020

and2023.

Among

clean

electrification

investments

inenergy

sources

and

powerinfrastructure,

renewable

power

and

electric

vehicles

accounted

forthe

largestshareof

theglobalspending,withover

600

billionU.S.

dollarseach.

By

comparison,global

spendingon

upgrading

andbuilding

new

sections

of

the

electricity

grid,includingtransmission

and

distributionpower

lines

and

voltage

transformers,amounted

tosome

300

billion

U.S.dollars

in2023

(see

page14).1.651.341.211.050.97According

tothe

policies

active

and

underdevelopment

as

ofMay

2023,investments

inrenewable

electricity,

power

grids,electric

vehicles,

battery

storage,andnuclearenergy

will

reach

a

combined

1.65

trillion

U.S.dollars

by2030.

Itwasestimated

thattheannualrequired

investments

inthese

sectors

shouldreach

4.2trillion

U.S.

dollarsinanNZE

scenario

by2030

(see

page14).2020202120222023203013

Notes:Worldwide;

2020

to

2023;

clean

electrification

includes

renewable

power,power

grids,electric

vehicles,

batterystorage,nuclear

energy,

and

other

end

use;forecastaccording

toIEA’s

StatedPolicies,

which

accounts

forpolicies

that

areactive

and

under

development

asofMay2023Sources:

IEA;

Visual

Capitalist;

ID:1468720;

Text:Canary

Media;

IEA;ID:1424236;

BloombergNEF;ID:1464335;

IEA;

ID:1383650;

ID:1424378Whatisthecurrent

andrequired

level

ofinvestment

inelectrification?3Electrification

investment

requirementsElectrification

investment

needs

byend-use

sectorGlobal

energy

transition

investment

in

2023

andrequiredinvestment

between

2024

and2030,

bysector(inbillionU.S.dollarsperyear)Electrification

investment

for

heatpumps

andelectricConsiderableinvestments

in

clean

energy

sources,electric

vehicles,

power

grids,

and

heatpumps

arerequired

worldwide

to

achieve

a

1.5

degrees

Celsiuspathway.

Despite

the

increase

recorded

in

these

sectors’spendingover

the

pastfew

years

(see

previous

page),the

gapbetween

current

andrequired

investments

inelectricity

infrastructure

and

the

transportationsectorremains

wide

asof

2023.

The

annual

investment

in

gridsandrenewables

isrequired

tomore

than

doublebetween

2024

and2030

inorder

tomeet

climate

targets.vehicle

infrastructurein

2022

withforecastrequirements

for2050

worldwide(inbillionU.S.dollarsperyear)Electrified

transportationRenewableenergyElectricity

gridsElectrified

heat3111063317CleanindustryEnergy

storageThe

electrification

of

the

transportation

sectoraccounted

for

the

largest

share

of

global

energytransition

investment

as

well

as

the

largest

investmentgap,

with

almost1.2

trillion

U.S.

dollars

more

requiredper

year

between

2024

and

2030.

Electric

vehiclecharging

infrastructure

is

the

subsector