A revolution is coming – and it will be powered by electricity. As part of the government’s net-zero drive, and with a looming 2030 ban on the sale of new petrol and diesel cars, up to 30 million electric vehicle chargers will need to be installed by 2050, according to the trade association for energy infrastructure companies, BEAMA. On top of that, the association says 20 million heat pumps will also be required, increasing electricity demand by more than 70 per cent.
Merlin Hyman, chief executive of Regen, a think tank with the mission of helping the UK achieve a net-zero energy system, describes this as “a massive ask”. He notes that the EV revolution involves transferring an entire energy supply chain – one that (until now) has been delivered via oil tankers through the Strait of Hormuz to refineries and petrol stations in the UK – onto the UK’s ageing electricity network.
“Overall, it may save us money as it is probably a cheaper supply chain to...