13.05.20
New energy consortium launched to help with net zero ambitions
The Carbon Trust and Imperial College London have joined forces to lead a new energy consortium project looking at how a flexible energy system can help reach net zero ambitions.
The cross-sector consortium, launched yesterday (May 12), will explore the notion of an integrated and flexible energy system to accelerate the UK’s goal of net zero carbon by 2050 most cost effectively.
In-depth analysis will go into how different sources of flexibility across many sectors, including heat, transport and power can reduce overall system costs to consumers.
Part of the project will be investigating which business models are required to deliver the proposed integrated system.
Reports published in 2016 by The Carbon Trust identified that the cost of a future energy system in Britain could be reduced by £40m if greater flexibility and more efficient storage was introduced.
Throughout the project, the groups will engage with public and private sector organisations including the Department for Business, Energy & Industrial Strategy (BEIS), Ofgem, the Committee on Climate Change, the National Infrastructure Commission and National Grid with findings set to be published in early 2021.
Andrew Lever, Director at the Carbon Trust commented:
“Significant action and investment are required to transition our energy system to help achieve net zero emissions for the UK economy by 2050. As the focus moves towards the decarbonisation of heat and transport sectors, it is essential that new sources of flexibility are explored to ensure the shift to net zero is achieved at lowest cost.
“This update to our previous work aims to create a robust evidence base that energy system stakeholders and policy makers can use to plan and invest confidently and efficiently. We are delighted that it is being supported by such a large number of organisations across the energy sector and beyond.”
Findings are expected to inform energy systems stakeholders and policy makers on net zero commitments, heat decarbonisation pathways and the switch to low emission transport options.