Recently, we almost became a fully electric car household.
I have had mine for nearly three years now and, after an initial period of adjustment, have been very happy with it. I quickly got into a routine of overnight charging and have felt good about travelling with a smaller carbon footprint.
I would be lying if I said I was not worried about range at first, but that faded after a few longer drives – although there have been times on holiday when I have needed to charge on the motorway at busy periods and it has taken a while to find a working pump without a queue several cars deep.
It was this last factor that persuaded my wife it was not quite time to take the plunge when her old car came to the end of its life.
While most of my journeys are well within the range of my nightly charge, she needs to drive further due to caring responsibilities, often with her elderly mother in the car.
Spending time sitting at charging stations or driving around to find a functional one did not feel practical in these circumstances, so in the end she opted for hybrid.
You might be familiar with the idea of the hype cycle. Developed by US research and technology company Gartner, it plots the journey of a new technology from initial development to widespread adoption.
Early excitement gives rise to heightened expectations, which are inevitably disappointed. But that does not mean the technology is no good. Rather, disillusionment is followed by a more realistic appraisal of the potential, refinement of the product and gradual adoption, alongside the development of the infrastructure that makes mainstream rollout feasible.
We can see this curve at play in the EV journey. We are no longer in the period of fevered anticipation – electric cars will not solve all the problems of automakers or of a car-dependent society. Nor are we in the slough of despond.
Instead, work is underway around the globe to make EVs more affordable, clean up production, improve battery life and build charging networks that can support future demand.
'Feel good' investments
Many are choosing to make the switch at this stage, perhaps accepting a degree of inconvenience that is manageable within their lifestyles in exchange for a clearer conscience about their impact on the planet. Many others will do so as it gets easier.
Sustainable investing appears to be on a similar trajectory.
After the frenetic rush of a couple of years ago, sustainable investing funds had a torrid time following the invasion of Ukraine. As traditional energy and defence stocks led a market rotation, unbelievers declared the end of a passing fad.
