McKinsey's report stresses the need to scale up heat pump technology, addressing challenges in cold regions, to decarbonize buildings and meet climate goals by 2050 through innovation, efficiency, and alternative heating solutions.
McKinsey's report emphasises the importance of heat pump technology for decarbonising buildings, which are responsible for 75% of emissions due to fossil fuel use in heating and cooling.
The global installation of heat pumps, currently at 200 million units, must increase nine-fold to 1.8 billion by 2050 to meet climate goals.
McKinsey highlights challenges in cold regions where efficiency drops in freezing temperatures.
A four-point action plan includes improving heat pump technology, enhancing energy efficiency, deploying alternative heating solutions, and using dual-fuel systems on cold days. These measures aim to accelerate the transition to sustainable heating systems.
