The Brit-Govt. plan on how the UK will ‘lead the world’ in cutting carbon emissions to combat climate change while driving economic growth and keeping energy bills as low as possible has been unveiled by Energy Secretary Greg Clark, MP.
The Clean Growth Strategy aims to build on the UK’s progress to date: carbon emissions have fallen (by 42%) and national income has risen faster and further (67%) than any other nation in the G7 since 1990.
Key planks in the strategy provide for more than £2.5 billion of government funding to be invested in low carbon innovation from 2015 to 2021 and new measures to make UK a ‘world leader in green finance’ as part of the Industrial Strategy
And home owners, renters and those living in social housing will benefit from increased energy efficiency and reduced bills with plans for as many homes as possible to have an Energy Performance Certificate of Band C by 2035 – potentially cutting energy costs for the average household by £270 a year.
Clark said: “For the first time in a generation, the British government is leading the way on taking decisions on new nuclear, rolling out smart meters and investing in low carbon innovation.
“The world is moving from being powered by polluting fossil fuels to clean energy. It’s as big a change as the move from the age of steam to the age of oil and Britain is showing the way.
“There are already more than 430,000 jobs in low carbon businesses and their supply chains. Today’s policies will provide further opportunities right across the country for more jobs, higher earning power and increased productivity. The low carbon economy could grow 11 per cent per year between 2015 and 2030 – faster than the rest of the economy.”
Further measures set out in the strategy include funding through the BEIS Energy Innovation Programme of up to:
- £10 million for innovations that provide low carbon heat in domestic and commercial buildings and another £10 million to improve the energy efficiency of existing buildings
- £20 million in a Carbon Capture and Utilisation demonstration programme
- £20 million to demonstrate the viability of switching to low carbon fuels for industry
- £20 million to support clean technology early stage funding, plus
- an extra £14 million for the Energy Entrepreneurs Fund, including a new sixth fund.
BEIS will also develop a package of measures to support businesses to improve their energy productivity by at least 20% by 2030 and set up an Industrial Energy Efficiency scheme to help large companies install measures to cut their energy use and their bills, as well as:
- Demonstrating international leadership in carbon capture usage and storage (CCUS), by collaborating with global partners and investing up to £100 million in leading edge CCUS and industrial innovation to drive down costs, and
- Investing around £841 million of public funds in innovation in low carbon transport, BPV (battery powered vehicle) technology and hydrogen fuel systems.
View the full report; Clean Growth Strategy
13 Oct 2017