How is the UK government funding heavy industries to get clean technology?

Green and clean technologies include a wide range of environment friendly products as well as infrastructure, like waste recycling, water purification, clean energy production, products to conserve natural resources and even repair the damage done in the past to the environment. 

In 2020, the UK Government came up with a 10-point plan for a green industrial revolution with the aim to build back the economy in a more sustainable manner after being battered by the pandemic. The plan focuses on offshore wind, low carbon hydrogen, advanced nuclear power, green public transport and zero emission vehicles, green buildings, green ships and carbon storage, among others. A few days after the Budget 2021, as part of the £1 billion Net Zero Innovation Portfolio of the UK Government, £92 million was assigned to support green technologies.

The 3 key areas of investment include biomass production, offshore wind energy and energy storage technology. Out of the £92 million, £68 million will be invested in energy storage technology, like storing energy from wind turbines and solar panels. Another £20 million will be invested in floating offshore wind technology, with the aim to supply power through wind energy to every home in UK by 2030.


Disclaimer
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is not authorised or regulated by the Financial Conduct Authority to provide regulated advice. The purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. The Content is guidance about the different types of investments that are available and sets out general principles to continue before making investment decisions. Kalkine Media is neither authorised nor qualified to provide regulated investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from an appropriately authorised and/or qualified financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

   

Kalkine

Rated 4.3/5 based on 904 Reviews at Google My Business