Public sector support will be required to unlock this value, as there are significant market barriers across the sector to overcome.
Non-Domestic Buildings: The energy used by non-domestic buildings accounts for approximately 18% of UK carbon emissions. The portfolio of non-domestic buildings is diverse and by 2050, total UK non-domestic floor area is expected to increase by 35%, while 60% of existing buildings will still be in use.
Innovative energy saving measures in non-domestic buildings sector represent a significant opportunity help meet emissions targets, as well as providing value through avoided energy costs, amounting to savings of 86 mega tonnes CO2 and c. 13 billion by 2050. Innovation could help create export opportunities that could contribute an estimated 1.7 billion to GDP by 2050.
Industrial Energy Efficiency: Emissions reduction opportunities in UK industries present tremendous potential to generate energy, save carbon and reduce cost of operations. The abatement potential in the key emitting industries in the UK is in the range of 270-500 mega tonnes with cost savings of 17-32 billion by 2050. Innovation is critical to enable deployment and reduce cost as the technology commercialises. Public sector support for innovation is necessary to maintain the UK's industrial presence and competitiveness in the global market. Innovation will also boost the UK's share of global market and could contribute an additional 3.9 billion (1.5-6.5 billion) to the UK GDP by 2050.
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Engineering and Physical Sciences Research Council