From the decidedly pro-environment UK Conservative government of Boris Johnson, current Prime Minister Rishi Sunak has made Net Zero one of his targets of attack, alongside “small boats” immigration. But his stance of rolling back previously bullish British decarbonization plans because they are “too expensive for cash-strapped families” is a false opposition. As the energy company E.
, which may cost as little as £45,000, there are signs that all-electric will reach cost parity with ICE in a couple of years, and then the only incentives not to buy a new BEV instead of ICE will be fear of change. With many manufacturers already committed to ending ICE sales by 2030 anyway, Sunak’s moving back of the 2030 ban to 2035 appears to be pure optics. After all, he also claims the UK is “a nation of motorists”, and BEVs are cars too.
Energy supply companies have a major role in the push towards the benefits of Net Zero. They are seeing themselves transforming beyond being faceless utilities, towards offering a range of services. Energy tariffs are becoming more complex, including features such as cheap overnight EV charging, and compatibility with home solar, battery storage and heat pumps.
None of this necessarily means Rishi Sunak is wrong to pull back on Boris Johnson’s green emphasis in the short term, even if the actual substance behind the announcement is minimal and the uncertainty generated potentially very damaging for UK industry. But it must be balanced by renewed focus on sustainability very soon because the economic benefits in the mid- and long-term are undeniable.
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Source: MarketWatch - 🏆 3. / 97 Read more »