A new grid for green energy and beyond
A large inhibitor to the adoption of renewable energy in the UK, and globally, is the power grid. It is expected to cost £48-58 billion to complete the upgrades, with the Action Net Zero noting significant progress will need to be made by 2035 for the UK to meet net zero targets.
That might sound like a lot of money, so it’s helpful to understand the electricity network has only seen minor upgrades since the 1950s. The energy transition is the catalyst for much needed transformation.
As well as the reduction in Co2 the reduced reliance on fossil fuels will bring, it is expected to generate 20,000 new jobs, with 90% of those being outside London and the south-east.