The opportunity to hit net zero by 2050 globally is “narrow but still achievable” if renewables grow to dominate the energy sector, while no additional investments into fossil fuels are made.
Global O&G major Shell has unveiled an aim of being a net zero emissions energy business by 2050 “or sooner”.
National Grid has revised its target for reducing its own greenhouse gas emissions, to now match the UK’s net zero by 2050 goal.
The Energy Systems Catapult has launched a new modelling tool with a whole energy system view to explore the role of storage and flexibility in decarbonising at least-cost.
Soaring renewables required under the UK’s binding climate change targets will send wholesale power prices crashing and fundamentally alter the workings of the power sector towards wider use of ‘capacity contracts’.