A clean power system saves UK households £300 per year
18 October 2023
UK households could save £300 every year on their electricity bills in 2030 if the government completes its switch to a mostly clean power system by then, according to new analysis from Ember.
The analysis finds that the savings from low-cost renewables far outweigh the total investment costs required. If 2030 clean power targets are met, the total annual saving for the UK economy is £8.7 billion.
The new report reveals that the UK can reach a 98% clean power system in 2030 by delivering on existing targets for offshore wind, solar power and other system elements. However, the UK government is currently falling behind on delivering these commitments.
“The longer the UK relies on fossil fuels, the longer households will feel the pinch. A clean power system will save households hundreds of pounds a year off bills, but lagging government action risks blocking those benefits,” said Harriet Fox, energy analyst at Ember.
Green boost to economy
The analysis found that if current commitments are delivered, the UK could export 49 TWh of electricity in 2030 to neighbouring countries, which is enough to power Ireland for a year. Historically, the UK has been reliant on importing electricity from other countries.
The spare power could also be used for green hydrogen production, which will be needed to support sectors across the economy such as industry and transport. If the UK meets its clean power commitments, the analysis by Ember finds that the country could produce 34 TWh of green hydrogen in 2030, more than 30 times the current level.