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Assessing the energy and socio-macroeconomic impacts of the EV transition: A UK case study 2020–2050

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  • Nieto, Jaime
  • Brockway, Paul E.
  • Sakai, Marco
  • Barrett, John

Abstract

The electric vehicle (EV) transition is underway in the UK and many other countries worldwide, switching from fossil fuel powered internal combustion engine (ICE) road transport to EVs that can be powered by renewable electricity. Whilst the projected energy and carbon reduction impacts are well understood, we have only a partial view of the potential socio-macroeconomic effects of the EV transition, i.e. the impacts on GDP and jobs. Common energy-economy models feature only limited energy-economy integration, and only assign a small role for energy in economic growth. Thus whilst economic changes such as increases to investment can feed into macroeconomic impact assessment, the impacts of the energy system changes are potentially underestimated.

Suggested Citation

  • Nieto, Jaime & Brockway, Paul E. & Sakai, Marco & Barrett, John, 2024. "Assessing the energy and socio-macroeconomic impacts of the EV transition: A UK case study 2020–2050," Applied Energy, Elsevier, vol. 370(C).
    • Handle: RePEc:eee:appene:v:370:y:2024:i:c:s0306261924007505
    DOI: 10.1016/j.apenergy.2024.123367
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