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Just to put those numbers in some context:
UK Finance estimates upgrading all homes to EPC would be around £250 billion.
https://www.ukfinance.org.uk/system/files/2022-10/Net%20Zero%20Homes%20Report%202022.pdf
Installing heat pumps in 29 million homes at £10k each would cost around £290 billion.
If the CCC's grid costs are accurate, and given they are needed for transport, industry and other chang
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The CCC estimates that total capex in electricity supply will be around £15 billion per year from 2025 to 2040, before falling in the 2040s.
The total investment to 2050 implied by the chart is roughly £330 billion.
The CCC estimates about 30% of this is investment in the electricity grid (the rest being in actual supply). Which would mean about *£100 billion* of investment in the grid.
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The UK's central problem is that gas prices still dominate energy bills.
This chart shows how wholesale electricity prices have moved in tandem with gas prices, even though the UK gets over half of its electricity from cheaper, non-gas sources.
Electricity has remained roughly 3 times more expensive than gas on *wholesale* prices, even as gas prices have soared.
This is because gas-fired electrici
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🔥 Top post: Just to put those numbers in some context: UK Finance estimates · 11 likes + reposts
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Just to put those numbers in some context:
UK Finance estimates upgrading all homes to EPC would be around £250 billion.
https://www.ukfinance.org.uk/system/files/2022-10/Net%20Zero%20Homes%20Report%202022.pdf
Installing heat pumps in 29 million homes at £10k each would cost aro…
The UK's central problem is that gas prices still dominate energy bills.
This chart shows how wholesale electricity prices have moved in tandem with gas prices, even though the UK gets over half of its electricity from cheaper, non-gas sou…
One issue that isn't going away in 2023 is energy bills.
Cornwall Insights is forecasting UK bills will remain high into the 2030s, while the OBR's forecast is now based on gas prices being 4 times higher than their pre-crisis level (190p…
The CCC estimates that total capex in electricity supply will be around £15 billion per year from 2025 to 2040, before falling in the 2040s.
The total investment to 2050 implied by the chart is roughly £330 billion.
The CCC estimates about…
One of the biggest problems the UK seems to have in reaching net zero is the lack of capacity in our electricity grid, and how long it takes to expand the grid.
So I've been digging in to the Climate Change Committee's Sixth Carbon Budget …
“Absolutist”
Noun, a person who believes in something completely, but only when they agree with it.
5. The Capital of Capitalism
This is about how the economy eventually developed a kind of wealth that was not tied up in owning the land. Capital is money that is invested in other productive ventures, like businesses, trade or technology.…
But I don't think this is the same as saying "we must de-grow".
My view is: tackling climate change is the top priority, but we should aim to grow as long as on track on climate/nature.
That is not the same thing as saying we must avoid/re…
I think we will be able to get to zero emissions (and beyond) while still growing but ... it's possible that we just won't value non-resource intensive stuff as highly. If all we really want is palm oil and beef and gas boilers, maybe GDP …
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