President Biden: Potential impacts for The Energy Industry
November 10, 2020Net Zero….Simplified
December 4, 2020GLEG Summary
- A ban on petrol and diesel car engine sales by 2030. Some Hybrid vehicles will continue to be sold until 2035. Grants for electric cars and funding for charge points will be provided.
- Offshore wind power will increase from 10Gig to 40Gig by 2030, enough electricity generation to power every UK home.
- More investment is to be announced in hydrogen technology with the aim of a town being powered by hydrogen by 2030.
- Over £500m to be invested in small and advanced nuclear reactors.
- £1bn of funds to be made available next year to insulate homes and public buildings.
- A further £200m is to be invested in carbon capture schemes.
- Aviation and maritime sectors are to have extra support for green energies with £20m committed to the maritime sector.
- An additional 30,000 hectares of trees are to be planted every year.
- Schemes to promote walking, cycling and public transport will be announced.
- London is to be made the global centre of green finance.
Please contact hello@gleg.co.uk for further details or any queries on how this may affect your future invoices.