DECC, the UK’s Department for Energy and Climate Change, has released the latest round of Technology Innovation Needs Assessments (TINAs). These reports “aim to identify and value the key innovation needs of specific low carbon technology families to inform the prioritisation of public sector investment in low carbon innovation.”
Currently available on the DECC website are TINAs for offshore wind power, marine energy, CCS in the power sector and electricity networks and storage. They consider the potential for innovation in these technologies and the likely impact on emissions and the UK economy between now and 2050. A very brief summary is:
- Innovation in offshore wind, backed by private sector investment, could displace existing fossil fuel capacity, save £18-£89 B and add £7-£35 B to GDP by 2050.
- Innovation in marine energy could supply 10 % of our energy needs, save £3-£8 B and add £1-£4 B to GDP by 2050.
- Innovation in CCS could offset 10-35 % of generation, save £10-£45 B and add £3-£16 B to GDP by 2050.
- Innovation in electricity networks and storage could save £4-£19 B and add £6-£34 B to GDP by 2050.