A new report by the CBI has found that the UK’s net zero industry is booming. Specifically, the sector is growing three times faster than the rest of the UK economy, and with electricity demand expected to treble by 2050, there is plenty of room for it to continue this upward trend.
According to Mark Sprawson, Commercial Director of VisNet from EA Technology, a UK low voltage energy network monitoring and management specialist, the UK’s commitment to net zero-related technologies is set continue to create new growth opportunities at home and abroad.
Mark explains, “As heat pumps, EV infrastructure, and a new generation of data centres powered by clean energy roll out across the country, the UK is becoming increasingly well-versed in renewable technology. This creates a significant opportunity to export our expertise across the world.
“While some have expressed concern about the projected cost of decarbonising the UK energy network, the benefits are set to supercharge the economy in the long run, aligning with Chancellor Rachel Reeves’s goal of increasing investment and unlocking the potential of UK industry.
“With infrastructure projects like The Great Grid Upgrade on the horizon, there’s never been a better time for the UK to take the lead as a net zero pioneer.”
Drawing on VisNet’s work with electricity network owners and operators to manage their low voltage distribution infrastructure, Mark notes, “The UK’s energy grid is incredibly resilient, and our network owners and operators do an incredibly challenging job managing rapidly shifting usage whilst keeping in step with clean energy goals.
“However, last year, National Grid said that only so much can be done with a power system that was originally built for a different era. The UK needs new infrastructure to connect renewable energy and ensure that it reaches homes and businesses.
“With 130,000 new jobs projected to be created by new electricity transmission infrastructure and the UK green economy growing by 9% in 2023 versus 0.1% growth in the rest of the economy, there’s a clear economic benefit to the UK in becoming a leader in the wider decarbonisation movement.
“We’re fortunate that the UK is already an important European hub for green technology solutions. As we’ve seen with other sectors like financial services, exporting our expertise to other markets delivers lucrative returns here at home.
“With the UK’s electricity supply having the cleanest year on record in 2024, the country is on the right trajectory with levelling up our transmission infrastructure, and we’re ahead of much of the international community regarding our net zero transition.
“The renewable energy sector is playing a key role in Britain’s economic growth, and positioning ourselves as an international leader attracts important inward investment to these shores.
“The UK taking the lead in net zero isn’t just the right decision for the planet – it’s also the right decision to get the country’s economy on track and performing in a way that healthy and resilient.”
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