Britain as a clean energy superpower: Bridging the gap between rhetoric and reality, writes John Caudwell

23 August 2024, 12:24

By John Caudwell

@JohnDCaudwell

The clock is ticking on climate change. The world is getting hotter, with 15 national temperature records having already been broken in 2024. The UK, like many nations, has pledged to achieve ambitious Net Zero targets by 2050.

Such targets demand a radical transformation, in which countries transition away from fossil fuels and embrace a clean energy future. This is not only good for the planet, it is the commercially smart choice. Countries around the world are competing to be the global leader in green tech and innovation, to create sustainable jobs, and invest in their future. The countries that succeed in this race will benefit enormously, and a clean energy future is also good for domestic energy resilience.

At the moment, Britain is sitting on the sidelines letting other countries reap the rewards of this economic opportunity. China, the US, and parts of Europe are storming ahead. We must leverage our strengths and invest in order to be competitive in the global race for green technology.

We also need the government to be clear and bold in its vision in order to attract inward investment.  In doing so, the public should be reassured and reminded that international companies making the UK their base is a positive step – creating jobs and contributing to economic growth, and ensuring taxes on the profits they make are paid in the UK (rather than being allowed to exploit any loopholes).

On Tuesday, Sir Keir Starmer used a visit to a wind farm in Wales to ‘supercharge’ his party’s commitment of turning Britain into a clean energy superpower through Great British Energy. This is a good signal; Britain is a leader in offshore wind, but integrating this effectively into the national grid requires significant investment in infrastructure.

Similarly, advancements in battery technology are crucial for storing energy produced by renewables, yet these innovations need to be commercially viable before they can be widely deployed. China, for example, has invested heavily in sodium batteries, and may soon have 95 per cent of the world’s capacity to make sodium batteries.

Britain boasts a world-class science sector and a burgeoning tech industry. We excel at research and development. So why aren’t we leading the world in this green transition – and why are China, the US, and Europe racing ahead of us?

I commissioned a study, Caudwell Strong Britain, at the Council on Geostrategy to understand this problem in more detail. This study addresses a crucial question: is Britain’s scientific prowess translating into practical solutions fast enough to meet Net Zero? The study, led by Dr Mann Virdee, surveyed over 60 of the UK’s leading scientists, academics and innovators to try and understand barriers to Britain’s prosperity.

Here’s the challenge: while Britain excels at research and development, and our universities make groundbreaking discoveries for the green transition, these brilliant ideas often get stuck in the lab and fail to translate into the large-scale businesses and solutions we need. This leaves a big gap between this potential and real-world application.

So, how can Britain bridge this gap and turn scientific potential into real-world solutions that propel us towards Net Zero? This new report emphasises the need for long-term strategy, funding, partnerships and planning.

Businesses must be incentivised to invest in and adopt these new technologies. Clear and consistent policy frameworks from government are essential, providing long-term direction and reducing regulatory uncertainty for businesses hesitant to invest in nascent technologies. This is one of the ways in which the new Labour government can help address the instability we have seen in recent years.

Investment is another key ingredient. The government must commit significant resources to fund research and development in clean technologies. And targeted public-private partnerships can leverage private sector expertise and resources to accelerate the development and deployment of these solutions. Inward investment and making the UK an attractive location for international companies to do business will be key.

The road to Net Zero won't be easy. There will be challenges, from technological hurdles to public resistance. This report serves as a crucial wake-up call.  Britain has the scientific capability to be a leader in the race to Net Zero and to benefit from the economic opportunities it offers.

Now, we need collaboration, decisive policy, and strategic investment to transform that potential into tangible solutions.

On Wednesday 11 September, experts will discuss Caudwell Strong Britain recommendations with ministers and other policymakers. The event is open to the public. Register at: https://www.geostrategy.org.uk/events

--

LBC Views provides a platform for diverse opinions on current affairs and matters of public interest. The views expressed are those of the authors and do not necessarily reflect the official LBC position.

To contact us email views@lbc.co.uk