ENERGY 

INNOVATION

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  • Meeting net zero targets requires an increase in the pace and scale of energy innovation. Studies show energy technologies take between 20 & 68 years to move from first prototype to 1% of a normal market.

  • Different technologies necessitate different innovation journeys and timescales. Policy makers need to take a prominent role in funding research, implementing policy, and shaping markets if energy innovation is to support the delivery of net zero.

  • Most prominent low carbon developments have occurred in the electricity sector.

  • 2020 Energy White Paper announced funding for a £1bn Net Zero Innovation Portfolio across ten areas of focus that underpins innovation across the whole energy system to 2030.

  • The Net Zero Innovation Board will be key in providing strong coordination across the innovation system.

  • Economic policy is an important tool for aligning innovation policy. Public procurement can catalyse early market development, stimulate demand, and shape systems transformation.

  • The Citizens Assembly UK backed measures that improve individual choice. Competition can reduce prices and speed up innovation.

  • The opening of UK energy policy making to a greater number of evidence sources has been important in developing the expertise to deliver net zero.

  • Net Zero policy approaches will need to carefully navigate the tension between stability and change.

  • Key decisions in relation to the direction of energy system decarbonisation need to be made if technologies are to be deployed at the pace required. High levels of cross system coordination are required for effective decision making.

 

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