Actions to Preserve the Environment

Electric car ownership is still remarkably low, with less than 10 million electric vehicles on the roads globally. However, this is all set to change in 2021, as sales are expected to increase by 60%, adding around 4.4 million electric vehicles onto the roads. This could drastically increase if car companies start to shift towards making electric vehicles. The oil demand crisis instigated by the pandemic may not last much longer, with the BNEF predicting a re-balance in the global oil market in 2021. The IEA instead predicts that oil prices will slowly decline through 2021, with some predictions showing a 1-2% decline on average each year through until 2050. As solar panels gain efficiency and battery technology grows in storage capacity and life expectancy, solar paneling is set to play a key component of the UK’s Energy White Paper. More and more businesses are committing to sustainability goals and solar panels are a vital tool enabling them to do this.