In response to today’s publication of the Government’s Industrial Strategy, Richard Black, director of the Energy and Climate Intelligence Unit (ECIU) said that the Green Paper points to ‘evolution not revolution’ in the areas of energy and the low-carbon transition.
“At first glance, the Industrial Strategy announcement seems to herald evolution not revolution regarding energy and the transition to a low-carbon economy. A commitment to energy security and tackling climate change are taken as givens, but it’s the third leg of the ‘trilemma’ that reveals the opportunities that the Government hopes to grasp, by exploiting innovative new technologies in the most cost-effective way possible,” he said.
“Finding ways to bring down the cost of decarbonisation is obviously a good thing. But what’s interesting is how the Government intends to do it. This green paper is the latest indication that it thinks technologies such smart, flexible grids, electric vehicles, demand response and energy storage will drive cost reductions and produce export opportunities for Britain.
“And this is the crucial point: the UK is competing with countries around the world that are also looking to exploit the opportunities inherent in the low-carbon transition. For us to be competitive, controlling costs whilst driving innovation isn’t a contradiction – it’s a necessity. Ministers’ next act should be to respond to the consultation with a firm, unequivocal statement that they are committed to the smart energy revolution, and so restore to investors some of the confidence lost under the previous Government.”