The Energy Technologies Institute (ETI) has welcomed a report by the Royal Academy of Engineering which says time is rapidly running out to make the crucial planning decisions and secure investment to keep the UK on track to deliver a reliable, affordable and decarbonised energy system to meet future climate change targets.
Prepared for the Prime Minister’s Council for Science and Technology, A critical time for UK energy policy details the actions needed now to create a secure and affordable low carbon energy system for 2030 and beyond.
The study looks at the future evolution of the UK’s energy system in the short to medium term. It considers how the system is expected to develop across a range of possible trajectories identified through modelling and scenarios.
ETI Chief Executive Dr David Clarke FREng, who led the group that produced the report, said: “The report’s findings closely align to the ETI’s view that the UK can implement an affordable transition to a low carbon energy system by 2050 but decisions taken in the next decade will be critical – we have 10 years to prepare for a low carbon transition.
“Updating the UK energy system to meet the ‘trilemma’ of decarbonisation, security and affordability is a massive undertaking. Meeting national targets affordably requires substantial decarbonisation of the electricity system by 2030 through a mix of nuclear power, CCS and renewables with gas generation for balancing.
“Beyond 2030 we must then largely decarbonise heat and transport, potentially through electrification but also using other options such as hydrogen and biofuels. We also need to adapt our transmission and distribution networks to become ‘smarter’.
“Failure to plan the development of the whole energy system carefully will result, at best, in huge increases in the cost of delivery or, at worst, a failure to deliver.
“Substantial investment is needed and current investment capacity is fragile. For example, in the last month projects like Carlton’s new Trafford CCGT plant have announced further financing delays and the hoped-for investment by Drax in the White Rose CCS demonstrator has been withdrawn. The UK has also dropped four places to 11th in EY’s renewable energy country attractiveness index.
The following actions for government are identified as a matter of urgency in the report:
– enable local or regional whole-system, large scale pilot projects to establish real-world examples of how the future system will work. These must move beyond current single technology demonstrators and include all aspects of the energy systems along with consumer behaviour and financial mechanisms
– drive forward new capacity in the three main low carbon electricity generating technologies: nuclear, carbon capture and storage (CCS) and offshore wind
– develop policies to accelerate demand reduction, especially in domestic heating, and introduce smarter demand management
– clarify and stabilise market mechanisms and incentives in order to give industry the confidence to invest.
New technologies could become unexpectedly significant – such as solar PV, which has recently become much cheaper. But large scale deployment of novel technologies would take decades and the system cannot be planned on promises and aspirations alone. The Academy calls instead for a combination of known technologies to be scaled up to unprecedented levels and integrated in smarter ways.
The report notes that the addition of shale gas or tight oil is unlikely to have a major impact on the evolution of the UK’s energy system as we already have secure and diverse supplies of hydrocarbons from multiple sources.
A critical time for UK energy policy: what must be done now to deliver the UK’s future energy system was prepared by a group of Academy Fellows and energy experts, including:
– Dr David Clarke FREng, CEO, Energy Technologies Institute
– Professor Nigel Gilbert FREng, Professor of Sociology, University of Surrey
– Dr Martin Grant FREng, CEO Energy, WS Atkins plc
– Dr Keith MacLean, Chair, UKERC Advisory Board; formerly Director, SSE
– Richard Taylor FREng, Chief Engineer and Senior Fellow, National Nuclear Laboratory
Picture credit: Power by johnthescone via Flickr
7 New Technologies That Could Radically Change Our Energy Consumption
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:
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
Responsible Energy Investments Could Solve Retirement Funding Crisis
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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