Green technologies, such as home insulation and electric vehicles (EVs), are crucial to meeting net zero by 2050 and can deliver substantial cost savings over their lifetime. But these remain expensive to purchase upfront, with a typical first hand EV costing approximately 35 per cent more than an equivalent petrol or diesel model.
As 30 per cent of the adult population, low to middle (LMI) income households will play a crucial role in the broad based adoption of green technologies. However, government policies to encourage their adoption largely target the upper and lower extremes of the income spectrum. As a result, LMI households are being locked out from their cost saving benefits and government risks alienating a pool of key voters.
This briefing sets out:
- The characteristics of low to middle income households and why they are important politically
- The cost savings associated with green home heating technologies and EVs, and some of the barriers LMI households in particular face to adopting these technologies
- Policy recommendations for government to help LMI households better access the cost savings associated with green technologies
Stuart Dossett, senior policy adviser, email@example.com