In recent years, the renewable energy sector has seen rapid growth. Due to global energy demands, public sector organisations in the UK and overseas have been creating strategies and making new partnerships to keep up.
Gain an insight into the latest investments into the energy sector below.
Energy sector overview
The sector is a big contributor to the UK economy – adding a value of £32bn each year. According to the “Energy in the UK 2018” report by Energy UK, the sector supports 682,000 jobs in UK, which equates to 1 in 51 jobs in the country.
Energy UK states that:
“The energy industry fuels the UK economy like a living heart, delivering energy to every corner of the country, supporting industry, business and homes with a constant and reliable source of power.”
UK Government supports the energy sector
Chancellor Philip Hammond made four announcements on behalf of the government around energy during the Spring Statement 2019 announcement:
- Government will support small businesses in cutting their carbon emissions and their energy bills. A call for evidence on the Business Energy Efficiency Scheme was released in March 2019.
- Government will “publish proposals to require an increased proportion of green gas in the grid, advancing decarbonisation of our mains gas supply. “
- Plans to publish a call for all for evidence on whether all passenger carriers should be required to offer genuinely additional carbon offsets was announced.
- The Future Homes Standard was introduced, which mandates the end of fossil-fuel heating systems in all new houses from 2025.
The UK energy sector has continued to grow since 2011, making it a reliable marketplace for suppliers within the energy sector.
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