Net-Zero Emissions to Cost U.K. Energy Sector $4 Trillion – Bloomberg
Article summary
Reaching Britain’s net-zero emissions pledge will cost the energy industry 3 trillion pounds ($4 trillion) as the nation upends its heating and transport sectors and expands renewable power generation. There’s only a 7% difference in the cost of the quickest and greenest pathway and the slowest trajectory where the 2050 target is missed, easing concerns that decarbonization is prohibitively expensive. Our Future Energy Scenarios are four potential pathways for the energy system between now and 2050. Our new analysis shows the relative costs of each scenario – including the impact of consumer engagement, negative emissions and energy efficiency. […] The U.K.’s 2050 target is legally binding and it’s down to industry to figure out how to make it happen.
