Hyperdrive
Electrifying Europe’s Factories Would Slash Emissions by 2050
- BloombergNEF report sets out a way to cut pollution 60%
- Power grid may need to boost capacity 75% to cope with demand
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The widespread electrification of some of the most polluting industries could dramatically reduce the amount of greenhouse gases spewed into the atmosphere.
Moving transport, buildings and industrial sectors toward using electricity instead of fossil fuels as an energy source could cut emissions in Europe by 60% between 2020 and 2050, according to a report BloombergNEF published on Tuesday with the Norwegian utility Statkraft AS and power management company Eaton Corp.