The UK government must protect funding for low carbon technologies if the country is to meet targets for reducing greenhouse gas emissions, a new report from the Committee on Climate Change advises.
Without government support such technologies could get stuck in a ‘valley of death’ where development is curtailed the committee says. The independent advisory body’s new report entitled ‘Building a low-carbon economy – the UK’s innovation challenge’, published yesterday, says that new low carbon-technologies will be vital in generating cleaner forms of electricity which can then be used for electric vehicles and heating, helping to reduce the UK’s dependence on oil and other fossil fuels.
The report concludes that any reduction in the current level of funding into low carbon technologies, currently standing at around £550 million a year would increase the chance that the UK would miss carbon budgets and lose out on critical opportunities to develop a green economy which would fuel economic growth. Investment into six key areas of technology; carbon capture and storage (CSS), smart grids and meters, marine (wave and tidal) electric generation and offshore wind generation, aviation and electric vehicles will provide the basis for green economic growth in the long term.
The report also recommends that the UK should invest in research and development of hydrogen fuel cell vehicles, technologies in agriculture and industry, 3rd generation solar PV technologies, electricity storage and advanced biofuels technologies.
Professor Julia King, member of the Committee on Climate Change said:
“The case for action is strong. With adequate funding, new policies and strengthened delivery arrangements, we would expect UK firms to take leading roles in the development of key technologies, driving down emissions to meet carbon budgets and targets, and fulfilling the new Government’s clear objective to build a low-carbon economy. We urge the Government to put the appropriate low-carbon technology support arrangements in place to unlock environmental and wider economic benefits”.
Welcoming the report, the Society for Motor Manufacturers and Traders’ (SMMT) chief executive Paul Everitt said: "The UK motor industry is well placed to exploit the transition to ultra-low carbon vehicles.
"The Committee on Climate Change rightly highlights the importance of investment in research and development and a sustained programme of consumer incentives. The UK motor industry has set out a clear technology roadmap that recognises the importance of improvements to conventional technologies as well electrification, hybridisation and low carbon fuels. Encouraging new investment in these areas is critical for the future of our economy and environment."
