Can the UK achieve net-zero greenhouse gas emissions by 2050?

Jennifer Castle and David Hendry

Economics Series Working Papers from University of Oxford, Department of Economics

Abstract: Net-zero greenhouse gas (GHG) emissions are an excellent target, but difficult to achieve by having to bridge a dramatic energy transition from fossil fuels to renewables, as well as eliminate other sources of GHG emissions from agriculture, construction and waste. A comprehensive strategy for doing so is essential, and although components like renewable electricity generation and electric vehicles are well developed, many issues remain, especially timing the stages in tandem. The key sensitive intervention points (SIPs) are (a) installing sufficient non-GHG electricity, (b) having elec tric vehicles connected to the grid for large-scale short-run backup storage, (c) utilising intermittent ‘surplus’ energy for nearly free hydrogen production, (d) some liquified for medium-term storage and a high-heat for industry, and (e) other electricity-based uses such as in agriculture. Public support for a purely green economy will wane if the economic costs are too high, so it is essential to maintain employment and real per-capita incomes. Decarbonizing the economy while also dealing with the economic costs of the COVID-19 pandemic can occur by using an integrated stepped approach.

Keywords: Greenhouse-Gas Emissions; Net-Zero Target; Decarbonizing; Economic Growth; Carbon Nanotubes; Renewable Electricity Generation (search for similar items in EconPapers)
Date: 2021-11-08
New Economics Papers: this item is included in nep-ene, nep-env and nep-reg
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Citations: View citations in EconPapers (1)

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Journal Article: CAN THE UK ACHIEVE NET ZERO GREENHOUSE GAS EMISSIONS BY 2050? (2023)
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