Motorists could make average annual savings of £1,000 on fuel bills if electric vehicles become mainstream, a new report forecasts.
The study looked at the implications for drivers' budgets, the economy and the environment if six million motorists adopt electric cars by the end of the next decade.
Author Cambridge Econometrics, on behalf of European Climate Foundation-based officials, showed that such uptake could save an overall £13 billion on fuel a year.
This could also bring about a 47% carbon emissions fall and slash the UK's importation of oil by 40% before 2030, it found.
Persuading motorists to switch could be the greatest challenge, the study suggests. Report co-author Philip Summerton urged investment in electric vehicle infrastructure to help drivers overcome their concerns.
There would be a gradual transition between 2020 and 2025, he predicted. His report based its assumptions on the renewable energy-fuelled electric car market expanding to 23 million during the middle of the century.
The study also pointed to the health and employment benefits of this kind of switch.
It said that particulates, nitrogen oxide and other air pollutant would be virtually eliminated by 2050 with £1 billion-plus knock-on benefits by lowering respiratory disease cases.
The country's GDP could rise by £2.4 billion to £5 billion by the end of the next decade, thanks to the consequent raised vehicle spending and lowered oil costs.
Between 7,000 and 19,000 jobs could also be generated by this trend, the study added.
Copyright Press Association 2015