Imagine a future where the United Kingdom’s energy bills are no longer at the mercy of volatile gas prices and clean, renewable energy flows reliably into homes and businesses, protecting both the economy and the environment. A recent report from climate think tank E3G lays out what it would take to transition to such an electricity system by 2030, which could permanently lower energy bills and safeguard the economy.
Calling for a swift shift from gas to renewables, the report highlights the need to mitigate impacts from inflation and fuel poverty. It underscores the need to rapidly build out renewable energy sources like wind and solar, as well as integrating energy storage solutions to achieve savings and grid stability by 2040.
Highlighting the importance of hydrogen power stations and long-duration storage, the report emphasizes their role in phasing out gas and calls for immediate government support.
In the long term, hydrogen power stations and long-duration storage are likely to be the cheapest ways to provide low-carbon backup for the electricity system. Investing in them will reduce gas use instantly and create a pathway to getting off gas completely.
“Cheap, Clean Electricity for Great Britain by 2030: A Framework to Lower Bills and Protect the Economy,” by Susanna Elks, Juliet Phillips, & Simon Skillings, E3G, July 17, 2024.
To secure cost-effective low-carbon infrastructure, the report calls for both upgrades to Britain’s electricity network and the introduction of an “Investment Efficiency Mechanism.”
A lack of available network capacity is the biggest challenge for the renewable energy and low carbon flexibility sectors today. This must be sorted if we are to rapidly build these assets. New projects in some areas can only connect in 10 years’ time or are limited on when they can produce electricity. Over 600 GW of new projects are currently stuck in the ‘connection queue’.
“Cheap, Clean Electricity for Great Britain by 2030: A Framework to Lower Bills and Protect the Economy,” by Susanna Elks, Juliet Phillips, & Simon Skillings, E3G, July 17, 2024.
Download the full report originally published by E3G on July 17, 2024.
