It goes on to explain that:
The policies required to deliver a net-zero economy are already active
or in development and include a supply of low-carbon electricity (which
will need to quadruple by 2050), efficient buildings and low-carbon
heating (required throughout the UK’s building stock), electric vehicles
(which should be the only option from 2035 or earlier), and a number of
other measures. However, these policies must be urgently strengthened
and to deliver tangible emissions reductions.
Policies will have to ramp up significantly for a ‘net-zero’ emissions target
to be credible.
The overall costs of the transition to a net-zero economy are manageable
but they must be fairly distributed.
This cannot be done by consumers or by Government alone. It requires partnership working and a whole systems approach to reducing emissions, such as that being tested by BankEnergi. Low carbon electricity will can only be cost-effective if it is balanced with more responsive energy demand, and if generators are given a chance to trade surpluses with others at a local level, including users who can ramp up demand through battery storage of time-shifting electric vehicle (EV) charging.
The BankEnergi project team support the CCC’s ambitions for a zero emissions economy by 2050 and are dedicated to demonstrating ways in which is can happen at a local level now.
The full report can be downloaded from the CCC’s website.