The Governments’ new Energy Security Strategy has recently been published – read the full document here British energy security strategy – GOV.UK (www.gov.uk)
The government’s ‘Ten point plan for a green industrial revolution’, together with the ‘Net zero strategy’ and this Energy Strategy, is driving an unprecedented £100 billion of private sector investment by 2030 into new British industries.
Key points of the new Energy Security Strategy
- Nuclear – The government plans to reduce the UK’s reliance on oil and gas by building as many as eight new nuclear reactors, including two at Sizewell in Suffolk. A new body called ‘Great British Nuclear’ will be set up to oversee the delivery of the new plants.
- Wind – The government aims to generate 50GW of energy by 2030. Also, to reform planning laws to speed up the approvals process from 4 years to 1 year, for new offshore wind farms. For onshore wind farms it wants to develop partnerships with “supportive communities” who want to host turbines in exchange for guaranteed cheaper energy bills.
- Hydrogen – Targets for hydrogen production are being doubled (aiming for 10GW by 2030) to help provide cleaner energy for industry as well as for power, transport and potentially heating.
- Solar – The government’s ambition is to increase the UK’s current 14GW solar capacity five fold by 2035. It will consider reforming rules for installing solar panels on homes and commercial buildings to help increase the current solar capacity.
- Oil and gas – A new licensing round for new North Sea projects is being launched in the summer on the basis that Ministers don’t want to burn more gas, but instead produce more of it domestically while they transition to renewables. The Government states producing gas in the UK has a lower carbon footprint than doing so abroad.
- Heat pumps – There will be a £30m “heat pump investment accelerator competition” to make British heat pumps which reduce demand for gas.