EV switch could save drivers £700 annually, report finds
March 4th, 2025
A new report from the Climate Change Committee (CCC) has outlined a roadmap for the UK to reach net-zero emissions by 2050, highlighting the financial benefits of switching to electric vehicles (EVs). The plan, presented to the Labour government, calls for an 87% reduction in emissions by 2040, with EV adoption playing a crucial role.
According to the report, electrification will contribute to 60% of emissions reductions by 2040. By 2050, households could see significant cost savings, with driving expenses projected to be around £700 lower per year compared to current costs. Energy bills are also expected to drop, with annual savings estimated at £716.
The findings reinforce the economic and environmental advantages of transitioning away from petrol and diesel, aligning with the UK’s broader decarbonisation targets.