Following hot on the heels of COP26, the government has released a flurry of policies and proposals for decarbonising all sectors of the UK economy to meet ‘net zero’ by 2050 - the latest being new laws requiring new-build homes and buildings undergoing major renovations in England to include electric vehicle charging points from 2022. Notably, this requirement will extend beyond the new-build residential sector to include newly built and refurbished commercial buildings such as offices and supermarkets.
Currently, the price point of electric vehicles remains too high for there to be sufficient take up, however, a significant reduction in price may be achieved if the UK is able to scale up the key infrastructure necessary to support this transition. As is the case with so many current transition strategies, the real estate sector has a critical role to play in reaching net zero. One example is that, as well as manufacturing the cars and installation of the charging points, the UK needs to facilitate the means of producing the essential battery technology. This will require the government to adopt a holistic approach to ensure that the necessary facilities come on stream and to tackle some thorny issues including land currently designated as green belt.