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The Tidal Lagoon Sector Is Estimated To Be Worth Over £70 Billion To UK Industry

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Today Tidal Lagoon Power launches ‘Ours to Own’, a report regarding the scale of the British industrial opportunity which is presented by tidal lagoons. This report is available at tidallagoonpower.com.

The company has at the same time launched a tender for the design and construction of a new £22m Turbine Manufacturing & Pre-Assembly Plant in Swansea Bay, to be the beating heart of a Made in Britain tidal lagoon turbine industry.

Swansea Bay Tidal Lagoon has been brought forward as a pathfinder project for UK and international tidal lagoons at full-scale. Tidal Lagoon Power has over five years worked with the supply chain to write Welsh and British industry into the DNA of this new global market from the outset.
Ours to Own sets out how Britain’s first mover advantage in the production of major components for tidal lagoon turbines, generators and turbine housings at Swansea Bay can be sustained and grown as the tidal lagoon sector scales in the UK and worldwide.

“British industry sees a number of attractions in tidal lagoons – predictable energy generation to maintain security of supply, the potential for long term cost reduction with deployment at scale, and significant opportunities for British manufacturing during construction”, comments Jeremy Nicholson, Director, Energy Intensive Users Group.

The immediate opportunity is for the UK’s engineering, construction, steel and manufacturing industries to win contracts totalling over £800m at Swansea Bay and over £6bn for the first project to employ its template at full-scale at Cardiff.

In addition to significant value captured through project design, services and operations, as well as more than half a billion pounds of investment in new UK industrial facilities, the report finds the potential value of the tidal lagoon sector to UK industry to be:

  • Domestic market for Made in Britain tidal lagoon turbines and generators = £17bn
  • Domestic market for Made in Britain tidal lagoon turbine housings = £24bn
  • Exports to international tidal lagoon market = £30bn

“This report captures the hard work of today’s industrialists to ensure tidal lagoons are British-engineered, that the manufacturing supply chain is British, and that we seize and own what can be a seventy billion pound sector for this nation. It is an extraordinary opportunity, explains Mark Shorrock, Tidal Lagoon Power’s chief executive.

180 years ago Brunel built the Great Western Railway and we still celebrate that British manufacturing and engineering success today.

“A roll out of tidal lagoons will be of equally significant scale and will also benefit our country for over a century”.

“It is a textbook case”, says Roger Evans MBE, Chair of the independent Tidal Lagoon Industry Advisory Group. “We have the natural resource, we need the power and we have the manufacturing skills to take on the challenge ourselves. A huge domestic market creates the ideal conditions for standardisation and mass manufacture, giving the UK a competitive edge on the world stage.”

“Perhaps the most appealing aspect of this plan is that it zooms in on those hard-to-reach corners of the Welsh and national economy”, says Robert Lloyd Griffiths OBE, Director, Institute of Directors, Wales.

The 100m long Turbine Manufacturing & Pre-Assembly Plant will be located between the Kings and Queens Dock at Swansea Bay, following a competitive tender of potential locations for the facility last year. The facility will receive major turbine components from manufacturers across Wales and wider Britain, with all machining and pre-assembly of the sixteen 7.2m runner diameter turbines required by the pathfinder tidal lagoon taking place on site. The facility, future proofed for exponential market growth, will initially employ up to 100 skilled workers, with an additional 150 project workers accommodated in an onsite office welfare area. Further tender details are available at: www.sell2wales.gov.wales/

Energy

7 New Technologies That Could Radically Change Our Energy Consumption

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Energy Consumption
Shutterstock Licensed Photo - By Syda Productions | https://www.shutterstock.com/g/dolgachov

Most of our focus on technological development to lessen our environmental impact has been focused on cleaner, more efficient methods of generating electricity. The cost of solar energy production, for example, is slated to fall more than 75 percent between 2010 and 2020.

This is a massive step forward, and it’s good that engineers and researchers are working for even more advancements in this area. But what about technologies that reduce the amount of energy we demand in the first place?

Though it doesn’t get as much attention in the press, we’re making tremendous progress in this area, too.

New Technologies to Watch

These are some of the top emerging technologies that have the power to reduce our energy demands:

  1. Self-driving cars. Self-driving cars are still in development, but they’re already being hailed as potential ways to eliminate a number of problems on the road, including the epidemic of distracted driving ironically driven by other new technologies. However, even autonomous vehicle proponents often miss the tremendous energy savings that self-driving cars could have on the world. With a fleet of autonomous vehicles at our beck and call, consumers will spend less time driving themselves and more time carpooling, dramatically reducing overall fuel consumption once it’s fully adopted.
  2. Magnetocaloric tech. The magnetocaloric effect isn’t exactly new—it was actually discovered in 1881—but it’s only recently being studied and applied to commercial appliances. Essentially, this technology relies on changing magnetic fields to produce a cooling effect, which could be used in refrigerators and air conditioners to significantly reduce the amount of electricity required.
  3. New types of insulation. Insulation is the best asset we have to keep our homes thermoregulated; they keep cold or warm air in (depending on the season) and keep warm or cold air out (again, depending on the season). New insulation technology has the power to improve this efficiency many times over, decreasing our need for heating and cooling entirely. For example, some new automated sealing technologies can seal gaps between 0.5 inches wide and the width of a human hair.
  4. Better lights. Fluorescent bulbs were a dramatic improvement over incandescent bulbs, and LEDs were a dramatic improvement over fluorescent bulbs—but the improvements may not end there. Scientists are currently researching even better types of light bulbs, and more efficient applications of LEDs while they’re at it.
  5. Better heat pumps. Heat pumps are built to transfer heat from one location to another, and can be used to efficiently manage temperatures—keeping homes warm while requiring less energy expenditure. For example, some heat pumps are built for residential heating and cooling, while others are being used to make more efficient appliances, like dryers.
  6. The internet of things. The internet of things and “smart” devices is another development that can significantly reduce our energy demands. For example, “smart” windows may be able to respond dynamically to changing light conditions to heat or cool the house more efficiently, and “smart” refrigerators may be able to respond dynamically to new conditions. There are several reasons for this improvement. First, smart devices automate things, so it’s easier to control your energy consumption. Second, they track your consumption patterns, so it’s easier to conceptualize your impact. Third, they’re often designed with efficiency in mind from the beginning, reducing energy demands, even without the high-tech interfaces.
  7. Machine learning. Machine learning and artificial intelligence (AI) technologies have the power to improve almost every other item on this list. By studying consumer patterns and recommending new strategies, or automatically controlling certain features, machine learning algorithms have the power to fundamentally change how we use energy in our homes and businesses.

Making the Investment

All technologies need time, money, and consumer acceptance to be developed. Fortunately, a growing number of consumers are becoming enthusiastic about finding new ways to reduce their energy consumption and overall environmental impact. As long as we keep making the investment, our tools to create cleaner energy and demand less energy in the first place should have a massive positive effect on our environment—and even our daily lives.

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Energy

Responsible Energy Investments Could Solve Retirement Funding Crisis

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Energy Investments
Shutterstock / By Sergey Nivens | https://www.shutterstock.com/g/nivens

Retiring baby-boomers are facing a retirement cliff, at the same time as mother nature unleashes her fury with devastating storms tied to the impact of global warming. There could be a unique solution to the challenges associated with climate change – investments in clean energy from retirement funds.

Financial savings play a very important role in everyone’s life and one must start planning for it as soon as possible. It’s shocking how quickly seniors can burn through their nest egg – leaving many wondering, “How long your retirement savings will last?

Let’s take a closer look at how seniors can take baby steps on the path to retiring with dignity, while helping to clean up our environment.

Tip #1: Focus & Determination

Like in other work, it is very important to focus and be determined. If retirement is around the corner, then make sure to start putting some money away for retirement. No one can ever achieve anything without dedication and focus – whether it’s saving the planet, or saving for retirement.

Tip #2: Minimize Spending

One of the most important things that you need to do is to minimize your expenditures. Reducing consumption is good for the planet too!

Tip #3: Visualize Your Goal

You can achieve more if you have a clearly defined goal in life. This about how your money can be used to better the planet – imagine cleaner air, water and a healthier environment to leave to your grandchildren.

Investing in Clean Energy

One of the hottest and most popular industries for investment today is the energy market – the trading of energy commodities. Clean energy commodities are traded alongside dirty energy supplies. You might be surprised to learn that clean energy is becoming much more competitive.

With green biz becoming more popular, it is quickly becoming a powerful tool for diversified retirement investing.

The Future of Green Biz

As far as the future is concerned, energy businesses are going to continue getting bigger and better. There are many leading energy companies in the market that already have very high stock prices, yet people are continuing to investing in them.

Green initiatives are impacting every industry. Go Green campaigns are a PR staple of every modern brand. For the energy-sector in the US, solar energy investments are considered to be the most accessible form of clean energy investment. Though investing in any energy business comes with some risks, the demand for energy isn’t going anywhere.

In conclusion, if you want to start saving for your retirement, then clean energy stocks and commodity trading are some of the best options for wallets and the planet. Investing in clean energy products, like solar power, is a more long-term investment. It’s quite stable and comes with a significant profit margin. And it’s amazing for the planet!

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