Achieving net zero by 2050 hinges on the rapid adoption of clean technology.
That’s one of the findings of a report by Energy Systems Catapult, which explores four future scenarios for reaching this goal and suggests there is a narrowing window of opportunity for transitioning to a sustainable energy system.
The report underscores the crucial role of mature technologies like offshore wind, solar power, nuclear energy and electric heating, along with the need for accelerated innovation in areas such as small modular reactors and long-duration energy storage.
The analysis suggests that despite the uncertainty surrounding the energy transition, viable pathways to net zero exist.
However, meeting this target will require unprecedented levels of innovation and investment.
The report estimates that the cost of achieving net zero remains within 1% of GDP by 2050, with an annual investment of £16 billion from both public and private sectors.
Furthermore, the report emphasises the necessity of integrating clean technologies into a reliable energy system, highlighting the importance of a ‘whole systems’ approach.
Guy Newey, Chief Executive Officer at Energy Systems Catapult, said: “2050 is just 308 months away and while the path to net zero has narrowed, innovations in mature and novel clean tech gives us cause for optimism.
“Our modelling has demonstrated that we have credible pathways to net zero available to us. But we need to accelerate the pace and scale of deployment to levels not yet seen.
“To make the transition to a zero-carbon future, we need to make the transition as easy for consumers as possible – and we are seeing huge innovations in consumer-facing products and services that will make low carbon options a desirable choice for households and businesses. If we fail to take consumers along the journey with us, net zero will not happen.”
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