The National Infrastructure Commission (NIC) has said £20-35bn ($24.4-42.7bn) of annual private investments are required in renewables capacity, electricity networks, hydrogen production, storage and networks and a CCS network for the UK to reach Net Zero.
The NIC’s Second National Infrastructure Investment Assessment said an “ambitious and sustained” programme of policy change with clear direction will be needed for the UK to reach Net Zero by 2050.
To hit climate targets, the Commission said around £20-35bn of private sector investments in renewable generation capacity and flexible sources of generation, electricity networks, and hydrogen generation, storage and networks, and a CCS network is required.
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