The potential of heat pumps? The net-zero transition calls for the decarbonization of buildings, and electrifying heating systems is one way to reduce emissions. Because of the cost and complexity of converting current systems, electrifying building heat has usually been challenging. But as electric heat pumps have become more efficient and cost-competitive, they have emerged as an increasingly viable solution, find McKinsey partners Blake Houghton, Evan Polymeneas, and colleagues. Heat pumps may be poised for widespread adoption in the decades to come, making up approximately 90% of new heating unit sales by 2050, up from 35% today.
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