UHY Ross Brooke Chartered Accountants

Government investment for energy technologies of the future

green energy

The government has launched a wide-ranging £375 million package of support for innovative energy technologies with the aim of powering British homes and businesses for decades to come and strengthening the nation’s energy security.

This includes £240 million to support the production of hydrogen as a clean, low-cost energy technology, £2.5 million of funding to develop next-generation nuclear technology and a further £5 million towards research into carbon capture.

The investment will support research, development and deployment of these cutting-edge technologies and give the country the energy independence it needs, reducing reliance on expensive fossil fuels. From nuclear reactors to hydrogen for industry, power, transport and potentially heating, the government is changing the way the UK gets its energy across a range of technologies.

The British energy security strategy sets out how Great Britain will accelerate the deployment of wind, new nuclear, solar and hydrogen, whilst supporting the production of domestic oil and gas in the nearer term – which could see 95% of electricity being low carbon by 2030.

See: Government unveils investment for energy technologies of the future – GOV.UK (www.gov.uk)

You may also be interested in:

R&D tax claims

Share This Post

Related insights

Talk to us

Newbury: 01635 555666
Abingdon: 01235 251252
Swindon: 01793 610008
Hungerford: 01488 682546