A determined plan to give the UK’s businesses more control over their energy use and support innovative new technologies as part of the Government’s Industrial Strategy has been set out by Business and Energy Secretary Greg Clark. The plan will “transform” how businesses store and use energy, subsequently delivering a smarter and more flexible energy system by removing barriers to smart and battery technology, in turn reducing costs for end consumers.
The Government’s new report entitled ‘Upgrading Our Energy System’ describes how the UK’s energy system is changing and how it can ensure economic benefits for businesses and householders alike. Over a quarter of the UK’s electricity is being generated through renewables such as wind and solar, with much of it located close to homes and businesses. New technologies that help store and manage energy are emerging and, as a result, the costs are falling.
These changes provide an opportunity to create new businesses and jobs in the UK. At the same time, new smart technologies like smart meters – and appliances that can be controlled from mobile phones – along with other improvements to manage the energy system will help the country save up to £40 billion on energy costs over the decades to come.
By rolling out smart meters, enabling suppliers to offer lower tariffs and making it easier for firms to develop smart appliances and gadgets, the Government’s plan will help consumers use energy when it’s cheapest or be rewarded for returning it to the grid when it is needed.