As a peer post noted (without back it up but seems reasonable):
> Only 20% of our energy needs are supplied by electricity.
It is a fair viewpoint to talk about energy instead of only electricity. For exemple the current EV are build using charcoal (steel and cement for the infrastructure) and parts/final product are moved around continent with oil (ships). Same for solar panels and their underlying steel structure. Same for the road were using those EV, etc… there’s technical solutions for those, but they didn’t prove to be economically competitive yet. So I’ll happily take that 80% efficiency when we need relatively low heat : domestic and commercial AC and water heating. Those are by far the most energy intensive usage in the residential sector when there isn’t an electric vehicle and are most needs in pick time (mornings, evening at winter). We better take that +60%.
The most economical solution for reducing our carbon emissions by 95% is doing these two steps in parallel:
1. Use electricity instead of fossil fuel 2. Generate electricity in carbon free manner
Yes, there are some use cases this doesn't work well at yet: steel & ocean transport are two you listed. But it does cover the 4 biggest sources of carbon emissions: ground transport, heating, electricity generation and agriculture. The big 4 are 95% of our carbon emissions.
The photovoltaic panels have the added bonus that the energy can be used for other purposes (e.g. transport, HVAC, computers, cooking, laundry, A/V equipment) should my hot water needs be low compared to what the system is designed to produce. However, from a pure efficiency standpoint, it is unclear to me which approach is better. They seem to be a rough tie, with losses for both approaches making the real world worse than ideal conditions. I am not sure if one is better than the other in the actual real world and if anyone who knows the answer is kind enough to share it, I would find the answer enlightening.
That said, in my home, I use net metered photovoltaic panels with a Rheem heat pump for domestic hot water. This was not done because I considered it to be a better solution, but because it was the only solution available to me from local installers.
Solar thermal heating used to make more sense but cost of photovoltaics has come down so much along with relatively cheap heat pump systems nobody is doing the former anymore it seems.
I just got a large solar system installed and next up is a heat pump water heater as thats the second largest user of power next to the HVAC, plus it will cool and dehumidify my garage some where the solar inverter and batteries are located, converting some of the waste heat from the inverter into hot water at the same time.
https://www.energy.gov/energysaver/solar-water-heaters
I recall hearing that they are 80% efficient while photovoltaics tend to be around 20% efficient.