Ukraine's Green Fightback: Rising from the Ashes with Renewable Energy

Electric Vehicle Price Parity 2027 signals cheaper EV manufacturing as battery costs plunge, widening model lineups, and tighter EU emissions rules; UBS and BloombergNEF foresee parity, with TCO advantages over ICE amid growing fast-charging networks.

Key Points

EV cost parity in 2027 when manufacturing undercuts ICE, led by cheaper batteries, wider lineups, and emissions policy.

✅ Battery costs drop 58% next decade, after 88% fall

✅ Manufacturing parity across segments from 2027

✅ TCO favors EVs; charging networks expand globally

A Bloomberg/NEF report commissioned by Transport & Environment forecasts 2027 as the year when electric vehicles will start to become cheaper to manufacture than their internal combustion equivalents across all segments, aligning with analyses that the EV age is arriving ahead of schedule for consumers and manufacturers alike, mainly due to a sharp drop in battery prices and the appearance of new models by more manufacturers.

Batteries, which have fallen in price by 88% over the past decade and are expected to plunge by a further 58% over the next 10 years, make up between one-quarter and two-fifths of the total price of a vehicle. The average pre-tax price of a mid-range electric vehicle is around €33,300, and higher upfront prices concern many UK buyers compared to €18,600 for its diesel or gasoline equivalent. In 2026, both are expected to cost around €19,000, while in 2030, the same electric car will cost €16,300 before tax, while its internal combustion equivalent will cost €19,900, and that’s without factoring in government incentives.

Other reports, such as a recent one by UBS, put the date of parity a few years earlier, by 2024, after which they say there will be little reason left to buy a non-electric vehicle, as the market has expanded from near zero to 2 million in just five years.

In Europe, carmakers will become a particular stakeholder in this transition due to heavy fines for exceeding emissions limits calculated on the basis of the total number of vehicles sold. Increasing the percentage of electric vehicles in the annual sales portfolio is seen by the industry as the only way to avoid these fines. In addition to brands such as Bentley or Jaguar Land Rover, which have announced the total abandonment of internal combustion engine technology by 2025, or Volvo, which has set 2030 as the target date, other companies such as Ford, which is postponing this date in its home market, also set 2030 for the European market, which clearly demonstrates the suitability of this type of policy.

Nevertheless internal combustion vehicles will continue to travel on the roads or will be resold in developing countries. In addition to the price factor, which is even more accentuated when estimates are carried out in terms of total cost of ownership calculations due to the lower cost of electric recharging versus fuel and lower maintenance requirements, other factors such as the availability of fast charging networks must be taken into account.

While price parity is approaching, it is worth thinking about the factors that are causing car sales, which are still behind gasoline models in share, to suffer: the chip crisis, which is strongly affecting the automotive industry and will most likely extend until 2022, is creating production problems and the elimination of numerous advanced electronic options in many models, which reduces the incentive to purchase a vehicle at the present time. These types of reasons could lead some consumers to postpone purchasing a vehicle precisely when we may be talking about the final years for internal combustion technology, which would increase the likelihood that, later on and as the price gap closes, they would opt for an electric vehicle.

Finally, in the United States, the ambitious infrastructure plan put in place by the Biden administration also promises to accelerate the transition to electric vehicles by addressing key barriers to mainstream adoption such as charging access, which in turn is fueling the interest of automotive companies to have more electric vehicles in their range. In Europe, meanwhile, more Chinese brands offering electric vehicles are beginning to enter the most advanced markets, such as Norway and the Netherlands, with plans to expand to the rest of the continent with very competitive offers in terms of price.

One way or another, the future of the automotive industry is electric, and the transition will take place during the remainder of this decade. You might want to think about it if you are weighing whether it’s time to buy an electric car this year.

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US Renewable Energy Cost Advantage signals cheaper utility-scale solar and onshore wind versus natural gas, with LCOE declines, tax credits, and climate policy cutting electricity costs for utilities and grids across the United States.

Key Points

Cheaper solar and wind than natural gas, driven by LCOE drops, tax credits, and policy, lowering US electricity costs.

✅ Utility-scale solar is about one-third cheaper than gas

✅ Onshore wind costs roughly 44 percent less than natural gas

✅ Policy and tax credits accelerate renewables and cut power prices

Natural gas’s dominance as power-plant fuel in the US is fading fast as the cost of electricity generated by US wind and solar projects tumbles and as wind and solar surpass coal in the generation mix, according to Guggenheim Securities.

Utility-scale solar is now about a third cheaper than gas-fired power, while onshore wind is about 44% less expensive, Guggenheim analysts led by Shahriar Pourreza said Monday in a note to clients, a dynamic consistent with falling wholesale power prices in several markets today. 

“Solar and wind now present a deflationary opportunity for electric supply costs,” the analysts said, which “supports the case for economic deployment of renewables across the US,” as the country moves toward 30% wind and solar and one-fourth of total generation in the near term.

Gas prices have surged amid a global supply crunch after Russia’s invasion of Ukraine, while tax-credit extensions and sweeping US climate legislation have brought down the cost of wind and solar, even as renewables surpassed coal in 2022 nationwide. Renewables-heavy utilities like NextEra Energy Inc. and Allete Inc. stand to benefit, and companies that can boost spending on wind and solar, as wind, solar and batteries dominate the 2023 pipeline, will also see faster growth, Guggenheim said.
 

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YVR EV Charging Infrastructure Funding backs new charging stations at Vancouver International Airport via ZEVIP and CleanBC Go Electric, supporting Net Zero 2030 with Level 2 and DC fast charging across Sea Island.

Key Points

A federal and provincial effort to expand EV charging at YVR, accelerating airport electrification toward Net Zero 2030.

✅ Up to 74 new EV charging outlets across Sea Island by 2025

✅ Funded through ZEVIP and CleanBC Go Electric programs

✅ Supports passengers, partners, and YVR fleet electrification

Vancouver International Airport (YVR) welcomes today’s announcement from the Government of Canada, which confirms new federal funding under Natural Resource Canada’s Zero Emission Vehicle Infrastructure Program (ZEVIP) and broader zero-emission vehicle incentives for essential infrastructure at the airport that will further enable YVR to achieve its climate targets.

This federal funding, combined with funding through the Government of British Columbia’s CleanBC Go Electric program, which includes EV charger rebates, will support the installation of up to 74 additional Electric Vehicle (EV) Charging outlets across Sea Island over the next three years. EV charging infrastructure is identified as a key priority in the airport’s Roadmap to Net Zero 2030. It is also an important part of its purpose in being a Gateway to the New Economy.

“We know that our passengers’ needs and expectations are changing as EV adaptation increases across our region and policies like the City’s EV-ready requirements take hold, we are always working hard to anticipate and exceed these expectations and provide world-class amenities at our airport,” said Tamara Vrooman, President & CEO, Vancouver Airport Authority.

This airport initiative is among 26 projects receiving $19 million under ZEVIP, which assists organizations as they adapt to the Government of Canada’s mandatory target for all new light-duty cars and passenger trucks to be zero-emission by 2035, and to provincial momentum such as B.C.'s EV charging expansion across the network.

“We are grateful to have found partners at all levels of government as we take bold action to become the world’s greenest airport. Not only will this critical funding support us as we work to the complete electrification of our airport operations, and as regional innovations like Harbour Air’s electric aircraft demonstrate what’s possible, but it will help us in our role supporting the mutual needs of our business partners related to climate action,” Vrooman continued.

These new EV Charging stations are planned to be installed by 2025, and will provide electricity to the YVR fleet, commercial and business partners’ vehicles, as well as passengers and the public, complementing BC Hydro’s expanding charging network in southern B.C. Currently, YVR provides 12 free electric vehicle charging stalls (Level Two) at its parking facilities, as well as one DC fast-charging stall.

This exciting announcement comes on the heels of the Province of BC’s Integrated Marketplace Initiative (IMI) pilot program in November 2022, a partnership between YVR and the Province of British Columbia to invest up to 11.5 million to develop made-in-BC clean-tech solutions for use at the airport, and related programs offering home and workplace charging rebates are accelerating adoption.

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East-West Power Transmission Grid links provinces via hydroelectric interconnects, clean energy exports, and reliable grid infrastructure, requiring federal funding, multibillion-dollar transmission lines, and coordinated planning across Manitoba, Saskatchewan, Ontario, and Newfoundland.

Key Points

A proposed interprovincial grid to share hydro power, improve reliability, and cut emissions with federal funding.

✅ Hydroelectric exports from Manitoba to prairie and eastern provinces

✅ New interconnects and transmission lines require federal funding

✅ Enhances grid reliability and supports coal phase-out

Manitoba's energy minister is recharging the idea of building an east-west power transmission grid and says the federal government needs to help.

Cliff Cullen told the Energy Council of Canada's western conference on Tuesday that Manitoba has "a really clean resource that we're ready to share with our neighbours" as new hydro generation projects, including new turbines come online.

"This is a really important time to have that discussion about the reliability of energy and how we can work together to make that happen," said Cullen, minister of growth, enterprise and trade.

"And, clearly, an important component of that is the transmission side of it. We've been focused on transmission ... north and south, and we haven't had that dialogue about east-west."

Most hydro-producing provinces currently focus on exports to the United States, though transmission constraints can limit incremental deliveries.

Saskatchewan Energy Minister Dustin Duncan said his province, which relies heavily on coal-fired electricity plants, could be interested in getting electricity from Manitoba, even as a Manitoba Hydro warning highlights limits on serving new energy-intensive customers.

"They're big projects. They're multibillion-dollar projects," Duncan said after speaking on a panel with Cullen and Alberta Energy Minister Margaret McCuaig-Boyd.

"Even trying to do the interconnects to the transmission grid, I don't think they're as easy or as maybe low cost as we would just imagine, just hooking up some power lines across the border. It takes much more work than that."

Cullen said there's a lot of work to do on building east-west transmission lines if provinces are going to buy and sell electricity from each other. He suggested that money is a key factor.

"Each province has done their own thing in terms of transmission within their jurisdiction and we have to have that dialogue about how that interconnectivity is going to work. And these things don't happen overnight," he said.

"Hopefully the federal government will be at the table to have a look at that, because it's a fundamental expense, a capital expense, to connect our provinces."

The 2016 federal budget said significant investment in Canada's electricity sector will be needed over the next 20 years to replace aging infrastructure and meet growing demand for electricity, with Manitoba's demand potentially doubling over that period.

The budget allocated $2.5 million over two years to Natural Resources Canada for regional talks and studies to identify the most promising electricity infrastructure projects.

In April, the government told The Canadian Press that Natural Resources Canada has been talking with ministry representatives and electric utilities in the western and Atlantic provinces.

The idea of developing an east-west transmission grid has long been talked about as a way to bring energy reliability to Canadians.

At their annual meeting in 2007, Canada's premiers supported development and enhancement of transmission facilities across the country, although the premiers fell short of a firm commitment to an east-west energy grid.

Manitoba, Ontario and Newfoundland and Labrador are the most vocal proponents of east-west transmission, even as Quebec's electricity ambitions have reopened old wounds in Newfoundland and Labrador.

Manitoba and Newfoundland want the grid because of the potential to develop additional exports of hydro power, while Ontario sees the grid as an answer to its growing power needs.

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Scotland Green Recovery Strategy centers on renewable energy, onshore wind, energy efficiency, battery storage, hydrogen, and electric vehicles, alongside public transport and digital infrastructure, local manufacturing, and grid flexibility to decarbonize industry and communities.

Key Points

A plan to cut emissions by scaling renewables, efficiency, storage, and infrastructure for resilient, low-carbon growth.

✅ Prioritize energy efficiency retrofits in homes and workplaces

✅ Invest in battery storage, hydrogen, and EV charging networks

✅ Support local manufacturing and circular economy supply chains

THE “green recovery” joins the growing list of Covid-era political maxims, while green energy investment could drive recovery, suggesting a bright and environmentally sustainable post-pandemic future lies ahead.

The Prime Minister once again alluded to it recently when he expressed his ambition to see the UK become the “world leader in clean wind energy”. In his typically bombastic style, Boris Johnson declared that everything from our kettles to electric vehicles, with offshore wind energy central to that vision, will be powered by “breezes that blow around these islands” by the next decade.

These comments create a misleading impression about how we can achieve a green recovery, particularly as Covid-19 hit renewables and exposed systemic challenges. While wind turbines have a key role to play, they are just one part of a comprehensive solution requiring a far more in-depth focus on how and why we use energy. We must concentrate our efforts and resources on reducing our overall consumption and increasing energy capture.

This includes making significant energy efficiency improvements to the buildings where we live and work and grasping the lessons of lockdown, including proposals for a fossil fuel lockdown to accelerate climate action, to ensure we operate in a more effective and less environmentally-damaging fashion. Do we really want to return to a world where people commute daily half way across the country for work or fly to New York for a two-hour meeting?

Businesses will need to adapt to new ways of operating outwith the traditional nine-to-five working week to reduce congestion and pollution levels. To make this possible requires Government investment in critical areas such as public transport and digital infrastructure, alongside more pylons to strengthen the grid, across all parts of Scotland to decentralise the economy and enable more people to live and work outside the main cities.

A Government-supported green recovery must rest on making it financially viable for businesses to manufacture here to reduce our reliance on imported goods. This includes processing recycleable materials here rather than shipping them abroad. It also means using locally generated energy to support local jobs and industry. We miss a trick if Scotland simply becomes a power generator for the rest of the UK.

MOVING transport from fossil fuels to renewable fuels will require a step-change that also requires support across all levels. The increased use of electric vehicles and hydrogen fuel cells are all encouraging developments, but these will rely on investment in infrastructure throughout the country if we’re to achieve significant benefits to our environment and our economy.

This brings us to the role of onshore wind power; still the cheapest form of renewable energy, and a sector marked by wind growth despite Covid-19 around the world today. Repowering existing sites with newer and more efficient turbines will certainly increase capacity rapidly, but we must also invest into development projects that will further enhance the capacity and efficiency of existing equipment. This includes improving on the current practice of the National Grid paying operators to switch off wind turbines when excess electricity is produced and instead developing new and innovative means to capture this energy. Government-primed investment into battery storage could help ensure we achieve and further reduce our reliance on traditional, non-sustainable sources.

We need a level playing field so that all forms of energy are judged on their lifetime cost in terms of emissions as well as construction and decommissioning costs to ensure fiscal incentives are applied on a fairer basis.

Turning the maxim of a green recovery into reality will require more than extra wind turbines, and the UK's wind lessons underscore the importance of policy and scale. We need a significant investment and commitment from business and government to limit existing emissions and ensure we capture and use energy more efficiently.

Andy Drane is projects partner and head of renewables at law firm Davidson Chalmers Stewart.

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UK electric vehicle sales reached a record high in September, with battery and hybrid cars making up over half of new registrations. SMMT credits carmaker discounts, new models, and a £3,750 EV grant for driving strong demand across the UK market.

Why are UK Electric Vehicle Sales Surging to a Record High?

UK electric vehicle sales are surging to a record high because automakers are offering major discounts, more models are available than ever, and the government’s new £3,750 EV grant is making electric cars more affordable and appealing to both fleets and private buyers.

✅ BEV sales up nearly one-third in September

✅ Over half of all new cars are now electrified

✅ £3,750 EV grants boost consumer confidence

Electric vehicle (EV) sales in the United Kingdom reached a record high last month, marking a significant milestone in the country’s transition to cleaner transportation. According to the latest figures from the Society of Motor Manufacturers and Traders (SMMT), sales of pure battery electric vehicles (BEVs) surged by nearly one-third to 72,779 units in September, while plug-in hybrid registrations grew even faster.

The combined total of fully electric and hybrid vehicles accounted for more than half of all new car registrations, underscoring the growing appeal of electrified transport, alongside global EV market growth, among both businesses and private consumers. In total, 312,887 new vehicles were registered across the country — the strongest September performance since 2020, according to SMMT data.

SMMT chief executive Mike Hawes said the surge in electrified vehicle sales showed that “electrified vehicles are powering market growth after a sluggish summer.” He credited carmaker incentives, a wider choice of models, and government support for helping accelerate adoption, though U.S. EV market share dipped in Q1 2024 by comparison. “Industry investment in electric vehicles is paying off,” Hawes added, even as he acknowledged that “consumer demand still trails ambition.”

The UK government’s new electric car grant scheme has played a significant role in the rebound. The program offers buyers discounts of up to £3,750 on eligible EVs priced under £37,000. So far, more than 20,000 motorists have benefited, with 36 models approved for reductions of at least £1,500. Participating manufacturers include Ford, Toyota, Vauxhall, and Citroën.

Ian Plummer, chief commercial officer at Autotrader, said the grant had given a “real lift to the market,” echoing fuel-crisis EV inquiry surge in the UK. He noted that “since July, enquiries for new electric vehicles on Autotrader are up by almost 50%. For models eligible for the grant, interest has more than doubled.”

While the majority of BEVs — about 71.4% — were purchased by companies and fleets, the number of private buyers has also been increasing. Zero-emission vehicles now account for more than one in five (22.1%) new car registrations so far in 2025, similar to France’s 20% EV share record, highlighting the growing mainstream appeal of electric mobility.

The surge comes amid a challenging backdrop for the automotive sector, even as U.S. EV sales soared into 2024 across the Atlantic. The UK car industry is still reeling from the effects of US trade tariffs and recent disruptions, such as Jaguar Land Rover’s production shutdown following a cyberattack. Despite these hurdles, the strong September figures have boosted confidence in the industry’s recovery trajectory, and EU EV share grew during lockdown months offers precedent for resilience.

Among individual models, the Kia Sportage, Ford Puma, and Nissan Qashqai led overall sales, while two Chinese vehicles — the Jaecoo 7 and BYD Seal U — entered the top ten, reflecting China’s growing footprint in the UK market. Analysts say the arrival of competitively priced Chinese EVs could further intensify competition and drive prices lower for consumers.

With electrified vehicles now dominating new registrations and fresh government incentives in place, industry observers believe the UK is gaining momentum toward its long-term net-zero goals. The challenge, however, remains converting business fleet enthusiasm into sustained private-buyer confidence through affordable models, with UK consumer price concerns still a factor, reliable charging infrastructure, and continued policy support.

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