Electrify the economy

Iberdrola is committed with the electrification as the no regret option for a sustainable economy

Economy Electric mobility

The electricity sector is the best available energy vector to incorporate renewable facilities. Iberdrola promotes the decarbonisation of the economy through greater electrification, especially in sectors such as transport (through electric vehicles) and buildings (through heat pumps).

Electrification of the economy.

In order for electrification to be possible, we must create a level playing field for energy sources:

1. All energy sources (gas, gasoline and electricity) must pay the cost of their emissions to the atmosphere, internalising the environmental cost. A uniform environmental taxation based on the "polluter pays" principle should be established.

2. The barriers to electrification must be removed, streamlining electricity tariffs to remove non-supply costs (i.e. social, industrial or environmental support policies).

Supporting climate action through shared effort.

Supporting climate action through shared effort. Video voice transcription [PDF] External link, opens in new window.

All energy products should reflect their true carbon footprint

In addition, to decarbonise other sectors, electrical end-uses should be incentivised:

1. In transport, establishing ambitious objectives for electric vehicles in the total fleet of new vehicles and ensuring the deployment of a basic recharging network on public roads. The Iberdrola Group has set a target of 1.7 million electric vehicles to be connected to the grid in the territory it serves and, in addition, its Smart Mobility  External link, opens in new window. Plan envisages the roll out of around 100,000 electric vehicle charging points in Spain.

Find out more about electric vehicle deployment

2. In buildings, offering incentives to promote a change in technology and emissions standards for heating and air-conditioning systems to render them free of CO2 and other pollutants. In terms of the electrification of buildings and industry, the Iberdrola Group has a target of 1.4 million heat pumps to be installed.

The electric heat pump is a real, mature and competitive alternative.

The electric heat pump is a real, mature and competitive alternative. Video voice transcription [PDF] External link, opens in new window.

Why we are committed to the electric heat pump