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November 18, 2020
By Andrew Montford

Decarbonizing the United Kingdom's transportation system by shifting to all electric vehicles will cost households more than 20,000 pounds.

A new analysis by Global Warming Policy Foundation estimates the cost of transitioning the United Kingdom’s entire transportation system and vehicle fleet to solely electric power to reach net zero carbon dioxide emissions from the sector to fight climate change will top $100 billion.

The capital costs of going all electric will top £2.1 trillion, the equivalent of £19,000 per household—£700 billion pounds more than travelers would have spent with no zero emissions transportation policy enacted. The ongoing operating costs will be high as well, including the costs of replacing batteries, finding replacement transportation when necessary, and time lost while vehicles charge. Montford finds the annual operating costs will exceed £107 billion, amounting to an extra £2,825 per household per year, double the cost of keeping a vehicle with an internal combustion engine on the road in the U.K.