Plans have been laid out for the investment of more than £380m into EV charging infrastructure to support the rollout of electric vehicles.
Announcing the news today, Prime Minister Rishi Sunak also said the government would be “building a stable environment for businesses to invest and grow” in the transition to electric vehicles and sustainable aviation fuel.
The detail comes in the fresh policy document, Powering Up Britain – Energy Security Plan, which outlines a number of initiatives to deliver green energy as well as ensure energy security and independence. The aim is to both reduce domestic bills for the longer term as well as “a world-leading position in achieving net zero”.
The government said the document would help support almost half a million new green jobs by 2030, and generate opportunities for UK businesses to export expertise around the world.
Alongside the EV infrastructure investment plans, the government also highlighted investment in offshore wind technology through a £160m fund, green hydrogen production through the £240m Net Zero Hydrogen Fund, and the first carbon capture projects as part of the £20 billion investment previously announcement.
It also highlighted the continuing Contracts for Difference scheme as well as a new focus on nuclear through the Great British Nuclear body, which would launch a new competition to select the best Small Modular Reactor technologies for development by autumn 2023.
Other announcements included on energy efficiency in domestic settings, including insulation schemes and heat pumps, as well as providing UK Export Finance with an extra £10 billion capacity to boost exports, including from the UK’s world leading clean growth sectors.
Sunak said: “We’re driving forward plans to boost renewables, revive nuclear and build new thriving industries like carbon capture, which will in turn create good jobs across the country, provide new opportunities for British businesses at home and abroad, and maintain our world-leading action to reach net zero.”
Energy Security Secretary Grant Shapps said: “Access to cheap, abundant and reliable energy provide the foundation stone of a thriving economy with our homes and businesses relying on it to deliver our future prosperity.
“This plan now sets out how we fix this problem in the long term to deliver wholesale UK electricity prices that rank amongst the cheapest in Europe, as we export our green growth expertise to the world.”
Chancellor of the Exchequer Jeremy Hunt said: “Transforming our energy system is no longer just about tackling climate change, it is also a matter of national security. To protect ourselves from future price spikes, we need to accelerate the move to cleaner, cheaper, home-grown energy.
“By unlocking billions of pounds of private capital through our Green Finance Strategy, we generate more of the energy we need in Britain and create new industries and jobs that are built to last.”
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