A recent report has indicated that over £350bn of technology investment will be required to facilitate the 2050 net-zero target.
The technology investment into clean energy innovations will include hydrogen networks, battery storage and renewables.
For the UK to hit its zero-carbon initiative, this report highlights the wide range of investment opportunities that will be available to support the energy sector, and tap into private capital investment.
With the UK government recently setting out its ten-point plan initiative to decarbonise the economy, and build back green following the pandemic and multiple lockdowns – which have inevitably affected a wide range of businesses, growing support for the green energy industries is vital to enable advancement in multiple renewable energy sectors.
It is predicted that renewable energy technologies that are already in operation such as wind and solar will lead the way, with battery storage solutions becoming an important factor in the clean energy grid.
Additionally, it is expected that investment into hydrogen technologies will become a major area of renewables going forward – designed to facilitate the green industrial revolution.
To achieve net-zero, an understanding of the broad diversification of technologies that are currently in place within the industry, along with emerging technologies that will support developments much be considered.
The technologies that will thrive, are the areas that can be transformed with commercial innovation in mind, ensuring sustainable energy solutions for long-term gain.
Net-zero 2050 is a global transition to change the landscape of energy production, reduce carbon emissions and support climate targets. With increased investment, production, and the efficiency of the technology involved in renewables – green energy becomes cheaper, allowing for broader adoption and integration into energy grids around the world.
The UK is in a prime position to develop an economy built on green, and following recent announcements of projects that will see investment opportunities in renewables and green technologies, the country looks set to ramp up backing for the renewable energy industry.
With this investment, it is also predicted that new jobs in the green industries will be created, transforming the UK employment landscape.
It’s a big week for the green energy industry, as the UK Government also announced what it called a world-first – a new green saving bond rollout, opening up the opportunity for people across the UK to invest collectively, in a bid to reach climate change targets to support projects related to renewable energy and cleaner transport solutions.
*REPORT – Lane Clark & Peacock’s (LCP) Energy Analytics