Groundbreaking analysis reveals a fully flexible energy system could cut the cost of reaching net zero by up to £16.7bn a year in 2050. Most in-depth analysis carried out to-date examines the role of flexibility in delivering an unprecedented expansion of the country’s energy system to achieve net zero. Key findings include: Embedding greater flexibility across the entire energy system will reduce the cost of achieving net zero for all consumers while assuring energy security; Investing in flexibility is a no-regrets decision as it has the potential to deliver material net savings of up to £16.7bn per annum across all scenarios analysed in 2050; A more flexible system will accelerate the benefits of decarbonisation supported by decentralisation and digitalisation; To maximise the benefits of flexibility, households and businesses should play an active role in the development and operation of the country’s future energy system as energy use for transport, heat and appliances becomes more integrated.
Policymakers should preserve existing flexibility options and act now to maximise future flexibility, such as by building it into ‘smart’ appliances or building standards.
Carbon Trust 18th May 2021 read more »