The UK renewable market in one shot

uk-renewable-market

The energy transition and net zero are among the greatest opportunities facing this country and the Government is committed to ensuring that the UK takes advantage of its early mover status. After decades of reliance on imported fossil fuels, the new Department for Energy Security and Net Zero’s mission is to replace them with cheaper, cleaner, domestic sources of energy. But the way to maintain lower cost energy for everyone is to move to renewables energy to protect the country from volatile international energy markets, so the UK becomes a net zero economy by 2050. It will also help them make sure Britain has among the cheapest wholesale electricity prices in Europe by 2035.

The UK has already made huge progress in decarbonising its economy and decoupling emissions from economic growth. Thanks to the Climate Change Act (2008) and Environment Act (2021), they have a strong legal framework for reaching net zero emissions by 2050. Between 1990 and 2021, UK has cut their emissions by 48%, whilst growing the economy by 65%. The UK was also the first G7 country to sign net zero greenhouse gas emissions by 2050 into law.

The policies and ambitions the country has committed to will help leverage around £100 billion of private investment as they develop new industries and innovative low carbon technologies, and their ambitions will support up to 480,000 jobs in 2030.

Vector Renewables has been present in the UK since 2015 and, as an independent advisor, has been an active part of the industry, supporting numerous clients in all phases of the project life cycle. Projects that have changed the paradigm of power generation, creating incalculable advances in the renewable sector in a very short period of time together with leading associations in the sector such as REA, which favour coordination and permanent contact with the Government, the responsible Ministries and the respective agencies.

In the following document you can find more information about the UK renewable energy market such as: Installed capacity in 2023, regulation, energy goals, most relevant associations in the sector, etc.

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