Tuesday, 12 November 2024
Home Analysis ‘Achievable by 2030’: A roadmap to affordable clean energy for the UK
AnalysisEconomyElectricityReportsSolarStorageUtilitiesWind

‘Achievable by 2030’: A roadmap to affordable clean energy for the UK

60
Photo by Joshua Bowers on Unsplash

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.

Related Articles

FILE PHOTO: An attendee films Samsung Electronics' Galaxy Watch 7 Ultra during its unveiling ceremony in Seoul, South Korea, July 8, 2024.  REUTERS/Kim Hong-Ji/File Photo
BusinessEconomyElectric Vehicles

Samsung Electronics shares hit lowest in more than four years

Samsung shares hit a four-year low, falling 2.1 per cent amid increased...

FILE PHOTO: A general view shows the Mexico state oil firm Pemex's Ciudad Madero refinery, after the Tropical Storm Alberto hit Mexico, in Ciudad Madero, Mexico, June 20, 2024. REUTERS/Henry Romero/File Photo
BusinessEconomyNatural GasOilPolitics

Mexico plans to set aside $6 billion for Pemex in draft budget, Bloomberg reports

Mexico plans a $6B allocation in its 2025 budget to aid debt-laden...

FILE PHOTO: A drone view shows forest fire devastation amid smoke in the Amazon, in Labrea, Amazonas state, Brazil September 6, 2024. REUTERS/Bruno Kelly/File Photo
Climate FinanceCoalEmissionsNatural GasOilReports

Global CO2 emissions to hit record high in 2024, report says

Global CO2 emissions will hit a record 41.6 billion tons in 2024,...

FILE PHOTO: New cars, among them new China-built electric vehicles of the company BYD, are seen parked in the port of Zeebrugge, Belgium, October 24, 2024. REUTERS/Yves Herman/File Photo
BusinessEconomyElectric Vehicles

Global EV sales up 35% in October, Europe ekes out a gain

Global EV sales rose 35 per cent in October, led by China’s...

Login into your Account

Please login to like, dislike or bookmark this article.