20 Jul New report highlights opportunities for innovators
A new report is highlighting the range of opportunities for innovators across the energy network business.
2050 Energy Scenarios, created by KPMG for ENA’s Gas Futures Group, looks at different options for driving change as the UK alters how we heat homes and businesses in a low carbon future.
The report explores four possibilities; prosumer, evolution of gas, a diversified energy mix and electric future. It examines the advantages, disadvantages and potential costs associated with these different scenarios.
Alec Breen, innovation leader at the Energy Innovation Centre, said: “There are four options that this report looks at and what we’re seeing is that no one element is the solution. That means there are incredible opportunities for innovators to play a huge part in all scenarios presented in the report. The report is a clear assessment of the challenges providing heat, power and transport into the future faces, its impact and options.”
Recommendations from the report include:
- The long term nature of network investment mean that gas and electricity policy decisions need to be firmed up ahead of the next RIIO network price controls.
- There needs to be more research into how customers and society will adapt and accept major changes.
- Gas and heat innovation funding and piloting needs to continue, especially in areas that help to firm up the understanding of options for 2050.
Launching the report, ENA chief executive, David Smith, said that it puts customer needs at its heart: “Heat accounts for 45% of the UK’s energy needs and this report demonstrates the scale of the challenge facing the UK as we look to decarbonise the sector in a secure and affordable way. This analysis places important emphasis on the customer.”
Robert Hull, director at KPMG and author of the report, added that: “This new KPMG report analyses four scenarios to explore how the UK can meet its 2050 decarbonisation ambitions, and helps set out the benefits and challenges for each. Important strategic choices lie ahead for the industry and this report can help inform the debate.”