Decarbonising Energy

The Pathway to Net Zero

The implications of rising greenhouse gas emissions is an issue of major public and political interest - a position reflected in the UK's 2019 legislative commitment to be "Net Zero by 2050".

This Special Report explores the central themes arising from the low carbon energy transition and explains why the challenges faced in delivering Net Zero should not be underestimated. Les mer
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The implications of rising greenhouse gas emissions is an issue of major public and political interest - a position reflected in the UK's 2019 legislative commitment to be "Net Zero by 2050".

This Special Report explores the central themes arising from the low carbon energy transition and explains why the challenges faced in delivering Net Zero should not be underestimated. It sets out how the road to Net Zero will involve a repurposing of not only our energy system but also our own behaviour. With a focus on power generation, the report also describes how moving from 53% to 100% 'low carbon' power generation in 30 years will require investment in renewable technologies at an unprecedented level.

Key questions examined in the report include:
*How important is renewable technology to global and UK energy supply? Have renewable projects been successful in stabilising harmful levels of greenhouse gas emissions?
*What is the Paris Agreement and Net Zero policy, where did they come from and how realistic are their goals?
*What are the UK's main generation technologies? What policy drivers determine investment in renewable technology?
*What new technologies will be required to deliver Net Zero?

Written with both the lawyer and non-lawyer in mind, this report will appeal to those with an interest in the energy sector as well as those who are enthusiastic about the implications of the radical Net Zero ambition on the energy system as a whole.

Fakta

Innholdsfortegnelse

I. Introduction

II. The global energy triumvirate: greenhouse gas emissions, global warming and green energy

1. Global energy trends - overview

2. Green shoots still to bud: carbon far from dated

2.1 The coal problem
2.2 Global greenhouse gas emissions (GHGEs) and global warming

3. Global green energy: an investment success story?

3.1 Investment in renewables
3.2 Growing capacity
3.3 Back to the future (again)
3.4 Capacity is not power
3.5 Electrifying energy

4. Renewable technology: now cheaper and more efficient

4.1 Falling costs
4.2 Explaining the cost savings
4.3 Price competition and the path to diminishing marginal returns

5. Global wrap-up

III. How green is UK energy?

1. UK energy trends - overview

2. Energy versus electricity

2.1 Generation capacity and interconnectors
2.2 Electricity generated

3. The relationship between capacity and electricity generated in the UK

IV. UK policy and the road to Net Zero

1. UK energy policy

2. Policy development - overview

2.1 Climate Change Act 2008
2.2 Coalition government 2011 budget
2.3 Electricity Market Reform (EMR) under the Energy Act 2013
2.4 The Renewables Obligation (RO)
2.5 The Feed-in Tariff (FiT)
2.6 Smart Export Guarantee (SEG)

3. The emergence of Net zero

4. The Committee on Climate Change's 2019 Progress Report

5. Future energy scenarios 2019: Net Zero aspects

5.1 Heating homes
5.2 Growth in generation capacity
5.3 Net Zero actually means negative zero - sequestration
5.4 Indispensability of carbon capture, use and storage (CCUS) technology
5.5 Electric vehicles (EVs)
5.6 Interoperability
5.7 Behavioural

6. Delivering Net Zero

V. Generation technologies: going from black to grey

1. Overview

2. Coal-fired generation

2.1 Summary
2.2 The coal scene
2.3 Policy
2.4 Convert or close
2.5 Biomass conversion, gas conversion and carbon capture, use and storage (CCUS)
2.6 Decommissioning

3. Nuclear generation

3.1 Overview
3.2 New build nuclear
3.3 Nuclear development costs
3.4 Nuclear third-party liability
3.5 Brexit and Euratom ('Brexatom')
3.6 The regulated asset base (RAB) model
3.7 What next for RAB?

4. Natural gas-fired generation

4.1 Overview
4.2 Peaking plants
4.3 Baseload plants
4.4 The Capacity Market (CM): a capacity lost?
4.5 Gas in a renewables world?
4.6 Gas: going green?

VI. Generation technologies: going from grey to green

1. Overview

2. Solar photovoltaic (PV)

2.1 Overview
2.2 Why solar?
2.3 Development aspects
2.4 Operation aspects
2.5 Connection aspects and stranded assets
2.6 Solar and subsidy
2.7 Solar without subsidy

3. Wind power

3.1 Overview
3.2 Wind in the UK
3.3 Cost of wind
3.4 Investing in wind power
3.5 Wind: finance aspects

VII. Net Zero and future technologies

1. Overview

2. Energy storage

2.1 Overview
2.2 Opportunities: co-location and revenue stacking
2.3 Battery storage: lithium ion and electric vehicles (EVs)
2.4 Pumped storage
2.5 Thermal storage
2.6 Hydrogen storage

3. Floating wind power

3.1 Overview
3.2 Early stage technology
3.3 Crown Estate and floating projects
3.4 Floating wind as a sector opportunity
3.5 Floating wind benefits
3.6 Key issues with floating projects
3.7 What next for floating wind?

4. Hydrogen: to the rescue?

4.1 Why hydrogen?
4.2 How is hydrogen produced?
4.3 Hydrogen and energy storage
4.4 Applications of clean hydrogen
4.5 Hydrogen: two opportunities
4.6 Hydrogen in 2050

5. Carbon capture technology

5.1 Overview
5.2 Carbon capture storage (CCS) and Net Zero

6. Negative emissions

6.1 Going green: reforestation and rewilding
6.2 Direct air capture (DAC)
6.3 Bioenergy carbon capture storage

7. Advanced nuclear technologies

7.1 Overview
7.2 Small modular reactors (SMRs) (Generation III water-cooled SMRs)
7.3 Advanced modular reactors (AMRs) (Generation IV AMRs)
7.4 Why advanced nuclear?

VIII.The UK's electricity network: electrons in balance

1. Overview

2. The electricity system: what it is and how it works

2.1 Generators
2.2 Transmission operators (TOs)
2.3 Transmission system operator (TSO)
2.4 Distribution network operators (DNOs)
2.5 Trade and aggregators
2.6 Suppliers
2.7 Customers (industrial, commercial and residential)
2.8 Ofgem and the Department for Business, Energy and Industrial Strategy (BEIS)

3. Balancing the electricity system: the balancing mechanism (BM) and ancillary services

3.1 The balancing mechanism (BM)
3.2 Wind and the balancing mechanism (BM)
3.3 Ancillary services

IX. Looking forward

Notes
About the author
About Globe Law and Business