Green Economy works with buyers and suppliers of low carbon products and services to improve access to the technologies and services that will facilitate the transition to net zero. We also work with local and regional policy makers to grow your local green economy.
Green Intelligence, powered by Green Economy, has been keeping businesses in the know since 2013. With the latest environmental legislation and sector news, along with market intelligence and thought leadership from green business experts, we are here to help you navigate the complex and fast paced green economy.
The government’s recent Energy Security Strategy sets out a major acceleration of homegrown power to boost energy independence, but experts say energy efficiency in buildings must be prioritised.
The Strategy, released in response to the worsening energy price crisis and concerns around the international reliance on Russia for fossil fuels, aims to boost the UK’s ability to meet its own energy demand cleanly and affordably.
The overarching goal is to accelerate the deployment of homegrown wind, nuclear, solar and hydrogen energy capacity, which could see 95 per cent of all electricity be low carbon by 2030. More controversially, there is also some additional support for the production of domestic oil and gas in the near-term.
The strategy in numbers
Highlights from the strategy include:
It is hoped the new plans will increase the number of green jobs in the UK by supporting:
Energy and climate change minister, Greg Hands, said: “Boosting our renewable energy supply is the only way for us to take control of energy prices. We are already a world leader in offshore wind, but we want to go further and faster so that clean, cheap energy becomes the norm.
“Although we don’t rely on Russian energy, accelerating our transition to renewable energy is the best thing we can do to protect the British people and to drive economic growth.”
Energy efficiency ‘the best way to reduce bills’
However, the strategy has been criticised heavily for its lack of focus on energy efficiency. Experts have pointed out that the rollout of additional homegrown energy supply such as new nuclear power will take many years to deliver, whereas reducing energy consumption can make an immediate difference to energy independence, bills and carbon emissions.
Simon Virley, vice chair and head of energy and natural resources at KPMG, said: “The best way to reduce energy bills permanently, cut emissions, and reduce our dependence on imported gas is a step change in energy efficiency. Other European countries, like Holland, France and Germany, are doing this as a matter of urgency as part of their response to the Russia/Ukraine crisis.”
According to digital energy services company eEnergy, UK businesses could be losing around £34 billion annually through wasted energy, with an estimated 30 per cent of energy being wasted from commercial buildings.