Submitted by: Acre
Posted: Jun 22, 2020 – 12:30 PM EST
A key project has been launched to help achieve a net zero economy by exploring how a flexible energy system works.
The Carbon Trust, which supports the development of low carbon technologies and solutions, is leading the cross-sector consortium project, supported by world-class university Imperial College London.
The Flexibility in Great Britain project will investigate the potential for an integrated, flexible energy system to reduce the cost of meeting the UK’s net zero economy target by 2050.
In-depth analysis will be conducted to study how different flexibility sources across the heat, power and transport sectors can reduce costs to consumers and explore the business models necessary to deliver such a flexible system.
The analysis will be based on research, modelling and interviews with stakeholders, with results from the project to be published early next year.
The findings are expected to inform energy system stakeholders and policy makers on net zero commitments, paving the way towards heat decarbonisation and the rapid transition to low emission transport
The project follows on from earlier Carbon Trust reports which noted that the cost of a future energy system in Great Britain could be reduced by £40 billion with greater flexibility and the implementation
The consortium comprises organisations across the energy system including: EDF Energy, the Greater London Authority, the Institution of Gas Engineers & Managers, SBM Offshore, Scottish & Southern Electricity Networks, UK Power Networks and Western Power Distribution.
Throughout the project, they will collectively engage with the Department for Business, Energy & Industrial Strategy (BEIS), Ofgem, the Committee on Climate Change, the National Infrastructure Commission and National Grid, with Imperial College London leading on advanced energy systems modelling.
Andrew Lever, director at the Carbon Trust said: “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.”
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