Our “Faraday Insights” provide an evidence-based assessment of the market, economics, technology and capabilities for energy storage technologies and the transition to a fully electric UK. The insights are concise briefings that aim to help bridge knowledge gaps across industry, academia and government. Published every two months the publications are prepared by authors from across the Faraday Institution network and coordinated by Stephen Gifford, Head of Economics and Market Insights.
The road to electrification – from the internal combustion engine to the battery electric vehicle.
All around the world, markets are transitioning from the internal combustion engine to electric vehicles (EVs). The UK is at the forefront of this push for the electrification of road transport. By 2030, the Faraday Institution expects that 64% of new cars bought in the UK will be EVs. Three-quarters of these will be battery EVs and one-quarter plug-in hybrids.
Photo credit: Nissan
The Gigafactory Boom: the Demand for Battery Manufacturing in the UK
The transition to electric vehicles will substantially increase the demand for batteries. Across Europe, there is a race to develop battery manufacturing factories to meet this demand. The UK is well-positioned to be a major player in this market. By 2040, the Faraday Institution estimates that eight gigafactories will be needed in the UK and consequently employment in the automotive industry and battery supply chain could increase from 186,000 to 246,000 jobs.
Photo credit: Nissan
Bringing Cheap, Clean and Reliable Energy to Developing Countries
Over 800 million people worldwide do not have access to electricity and, of those that do, many suffer from an unreliable supply. Diesel and petrol generators commonly used in developing countries bring problems of noise, air quality and climate impacts. Energy storage technologies including batteries have the potential to replace generators and provide cheap, clean and reliable electricity to millions of people.
Read the full report by Vivid Economics.
The Faraday Institution and the Department for International Development (DfID) commissioned consultants Vivid Economics to perform a rapid market and technology assessment of storage in weak and off-grid contexts in developing countries, to which this Insight refers.
Electric Vehicle and Battery Safety Skills for Emergency Services, Vehicle Repair, and Auto Retailers
Fire, police, ambulance, and service personnel will need new skills to handle EV accidents and repair to ensure the safety of themselves and others. The number of those workers who need reskilling is substantial and resources are needed to support sector skills councils and providers for regional delivery of accredited courses.
We are planning to publish Faraday Insights in the following areas over the coming months: