Electrification beyond the power sector could bring a wealth of economic and environmental benefits to the EU.

That’s according to a new report from EURELECTRIC, which says converting the transport and heating/cooling industries away from fossil fuels and into increasingly low carbon electricity would be hugely significant in slashing emissions.

The average electric vehicle (EV) in Europe is responsible for producing less than 50g of CO2/km, far below the EU target of 95g by 2020.

This is a fraction of the emissions produced by even the most efficient internal combustion engine cars available.

The report suggests improved policy measures such as ambitious emission targets for cars and vans, improved EV test cycles and improved charging infrastructure are necessary to continue progress in the sector.

It also says increased use of electricity in heating and cooling could create annual savings of €44.7 billion (£37.36bn).

The group says new and innovative finance instruments are required to accelerate the deployment of heat pumps and similar technologies.

Kristian Ruby, Secretary General of EURELECTRIC, said: “The recipe for clean energy to all Europeans really has one key ingredient – it is power to the people.

“Electrification holds a huge potential for Europe. Switching to electricity will not only reduce Carbon Dioxide and oil imports. It will also give us better cities with cleaner air.”