The Energy sector is key for global sustainability and a successful UK economy. There are opportunities through all tiers of the supply chain - in modernising traditional energy sectors, developing Renewables markets, zero carbon and new technology.

In 2024, uncertainty remains in Energy markets and supply, ih the UK and globally. Overall, COP 28 appears to have been received favourably and seemed to promise a great deal, but how many of these promises will be fulfilled and targets achieved within their timescales? Post-covid energy prices remain high and supply is still under threat from global conflict.

COP 28 (See below) indicated growing global awareness and responsiveness to tackle climate change and agreement on net zero carbon targets. However, there are cost of living challenges all over the world and budgets for renewables and advanced technologies are often restricted, particularly in developing economies. 

Energy Contribution to the UK Economy 2022
 

Source: UK Govenment Department for Energy Security and Net Zero and National Grid.

- 7.0 % of investment.

- 26.4 % of industrial investment.

- 3.6 % of GVA (Gross Value Added).

-  Approx 166,500 people directly employed (5.8% of industrial employment) and more indirectly. 

- 1.2 % of annual business expenditure on R & D in 2022.

UK Energy Consumption 2022

Oil 36.0%

Gas 39.3%
Primary Electricity 10.9%

Bioenergy & Waste 10.8%

Coal 3%
Import Dependency - In 2022 Energy Imports accounted for 37.3% of the UK's energy cnsumption. Major sources of imports included; Norway, Netherlands, Middle East and USA.

UK Low Carbon Energy Sources 2022

In 2022 the UK obtained 20.7% of its primary energy from low carbon sources.
 

Nuclear 6.1%

Wind 4.1%

Solar 0.7% 
Hydro 0.3%

Bioenergy 7.1%

Transport Fuels 1.4%

Others 1.0%

UK Electricity Generation (2022) by fuel / energy type

Renewable sources accounted for 41.5% of UK Electricity Generation in 2022. This increased to 44.5% in last quarter 2023.

Gas 38.4 %
Nuclear 14.7 %

Wind & Solar 28.8%

Other Renewables 11.0%

Coal 1.7%

Hydro 1.7 %

Oil & Other 3.7 %

UK Renewable Energy Sources 2022

Bioenergy 63%

Wind & Marine 26%

Solar PV,  Active Solar, Thermal & Geothermal 4%

Heat Pumps 5%

Hydro 2%
 

* Bioenergy includes; plant & animal biomass, anaerobic digestion, bioliquids and biogas into the gas grid.

COP26/27 Outcomes

- Green finance ($130 trillion) for the net zero economy.

- International Sustainability Standards Board for international standards and governance.

- Greater climate transparency and clarity in the private sector.

- Revisiting the Paris Accord and reinforcing 2030 targets, closing loopholes and minimising the risk of double counting.

- Currently on target for 2.4% warming, not achieving the 1.5% target but better than the previous 3-4% target.

- Major international banks committed to ending all international public financing of new unabated coal power at the end of 2021.

- Leaders representing 110 nations signed declaration to reverse deforestation by 2030.

- Nearly 100 countries to decrease methane emissions by 2030.

- Plans to reduce costs of sustainable solutions such as electric vehicles, green steel, sustainable agriculture and hydrogen production.

- Many leading countries agreeing to phase out coal power.

COP28 Takeaways / Developments - Energy and Climate Change

- Loss & Damage - Agreement to support most vulnerable nations from impact of climate change, development of response planes, flooding, rising sea levels, displacement, financial pledges managed by world bank.

- Fossil Fuel Reduction / Phasing Out - 'Acceptance' of fossil fuel reduction consistent with limiting warming to 1.5 degrees celsius and reaching net zero by 2050.

- Non-CO2 Greenhouse Gas Emissions - reduction agreement to be accelerated, particularly methane emissions by 2030.

- Climate Finance Traget - New Collective Quatified Goal (NCQG) - to build on $100 Bn pledged by developed nations. Agreement to move forward with these plans at COP29.

- Globalstake - agreement on sharing of information on green developments and carbon usage to evaluate the situation.
-  Explosive growth in wind and solar power generation, notably in China (easily the world leader), However in contrast, there is still high growth in coal sourced electrcity generation. 

- Overall, There were significant steps foward at Dubai, particularly in agreeing policy and acknowledging each countries different priorities and strengths/weaknesses, however implementation plans need to be consolidated.

GRA keeps up to date with market, new build and investment trends and governnment energy policy, updating information accordingly to identify new opportunities throughout the supply chain.  Ongoing emphasis on Zero Carbon and developments in Renewables, aswell as the implementation of nuclear policy.

Also tracking developments in areas such as; floating wind turbines - gigabyte battery investment, battery storage, electric arc furnaces (steel industry) and green hydrogen in the UK and overseas.
 

UK Energy Mix - Recent Market Developments, Trends and Opportunities include;

- Wind accounts for 27% + of electricity generation (Offshore 15% and Onshore 12%) of electricity generation.

- Expansion of North Sea Offshore Wind Energy. In 2023, Crown Estate Scotland announced 17 projects, including floating and bottom-fixed turbines, to generate 25 GW - far larger than expected. Seagreen, Scotland, now operational.
- World's largest offshore windfarm in the North Sea - Dogger Bank (3 hpases) commenced operation in October 2023.

- Offshore expansion at Burbo Bank (quadrupling capacity), Hornsea & Beatrice.

- Connectivity developemts (and storage) between Norway and UK.

- Solar now accounts for 5% + of the renewables market - developments in Solar / Photovoltaic technology to increase the adoption rate.

- Hinkley Nuclear Power Plant is now well under construction. However, costs have increased significantly to over £30 Bn. It is has been delayed and is now anticipated to be operational in 2030.

- UK Government £100m in Nuclear Power at Sizewell 'C' to encourage further investment.

- Potential development of smaller nuclear reactors and site. However, there still appears to be uncertainty over many sites e.g. Wylfa / Hitachi.

- Hydrogen and Green Hydrogen projects.

- Confirmed investment for Larege-scale Electric Vehicle and Battery Gigaplants in the UK has been limited to one site in the North East for Nissan. Britishvolt at Blyth went into administration..

- Developments in EfW (Energy from Waste) and recycling generally, reduction in Landfill.

- High growth in Anaerobic Digestion & Biogas - local authority, municipal waste, agriculture and food industry.

- CHP schemes - often joint ventures between Energy and Manufacturing companies.

- Growth in Hydro and uptake of Micro Hydro technology. Steady stream of new projects.

- Total's new Laggan Tormore Natural Gas Plant on Shetland has commenced production.

- Ongoing decommissioning opportunities at Nuclear sites and North Sea Oil.

- Limited implementation in Wave and Tidal projects.

Extensive research has been conducted amongst equipment suppliers, specifiers and decision-makers at Energy and Utilities companies, aswell as the manufacturing supply chain. Research and prospecting covers established energy sectors / technologies eg power stations, natural gas, nuclear and CHP aswell as renewables, hydro, AD, biogas, wave, marine current and other developing technologies.

Decision-making procedures are often complex and it is usual to contact many decision-makers across organisations covering; engineering, procurement, maintenance and plant management, project management, operations, consultants and other specifiers.  Information and databases need to be continuously updated and energy project timescales, construction plans and logistics taken into consideration.
 

 Recent Projects

• Handheld & Tablet Computers - Utilities Field Service - Product Development Research Projects
• Production Facilities in Electric Battery Gigafactories - Opportunities Research
• Hydropower Schemes - Site Research / Updates
• Wind Farms - Onshore & Offshore Site Research / Updates & Tracking
• GIS / Surveying Applications & Software for Energy / Utilities - Market Opportunities
• Pen Computing / Datacapture for Energy / Water Industry Applications - Product Development Research
• Tidal / Wave - Site Research / Investment and Development Updates 
• Power Stations - Transition from Coal, Oil to CHP - Site Research / Trends (decline in coal based power) Tracking & Updates
• AD & Biogas - New Opportunites & Market Developments - within Local Authority Consortiums, Agriculture and Food Industry sectors.
• Biomass - Market Development Research
• Air Curtains / Barriers and Automatic Doors - Desk Research

There are many opportunities for manufacturing and service organisations.  GRA tracks and targets these opportunities whilst taking into account the challenges facing the supply chain and overcoming barriers to entry.