Accelerating the Rate of Investment in Local Energy Projects - Summary Report

Polly Billington, Charles Abel Smith, Malcolm Ball
UK100 & Siemens
Energy
Energy
Finance Logo UK100
Finance
Our transition to a Net Zero economy requires a fundamental change in the way our energy system operates. Our switch to renewable generation requires us to develop a balanced energy system which combines a mix of large-scale power generation with local decentralised energy systems.

The opportunity is now. As we rebuild our economy post Covid-19, there is a clear and pressing opportunity to invest in our transition from fossil fuels. Failure to take this opportunity poses risks to our future economy and the acceleration of changes to our climate.

Local energy systems will involve energy consumers becoming generators themselves. To be cost-effective they will use local generation, smart technology and storage solutions to balance demand and supply. The closer the energy is generated to where it is used, the less will be lost through transmission. Rapid investment in energy efficiency measures, which reduces the amount of energy we consume, will enable us to reduce their size and cost.

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