The UK needs to spend £286bn ($£286 billion) on EV chargers, heat pumps and upgrading power grids to reach its 2050 zero emissions target, according to a report for Scottish Power by consultancy company Capital Economics. It said 2,300 EV chargers and 1,700 heat pumps were needed every day until 2050. That would increase electricity demand and require network upgrades. The report also said the number of EVs must increase from the current 180,000 to 35 million by 2050, every household with an EV will need a charger, and 2.6 million public and businesses charging points will have to be installed.
The UK needs to spend £286bn ($367bn) on EV chargers, heat pumps and upgrading power grids to reach its 2050 zero emissions target, according to a report for Scottish Power by consultancy company Capital Economics. It said 2,300 EV chargers and 1,700 heat pumps were needed every day until 2050. That would increase electricity demand and require network upgrades. The report also said the number of EVs must increase from the current 180,000 to 35 million by 2050, every household with an EV will need a charger, and 2.6 million public and businesses charging points will have to be installed.