The UK Chancellor, Kwasi Kwarteng today (September 23) unveiled a new Growth Plan to outline the Government’s approach to the country’s economy, which detailed reaffirmed commitments to hydrogen.
Under the plan which details some of the most dramatic tax cuts for decades, the Exchequer has said that the government is “driving the development” of “home-grown” hydrogen, carbon capture, utilisation, and storage (CCUS), nuclear, and renewable technologies.
Additionally, the plan has said that the UK Government is set to increase the country’s renewable capacity by 15% by 2023, supporting its commitment to reach Net Zero emissions by 2050.
Speaking today in the House of Commons, Jacob Rees-Mogg, Secretary of State for Business, Energy and Industrial Strategy, said, “”I think hydrogen is ultimately the silver bullet. We create it from renewable sources, because we have the wind power when people are not drawing on the electricity system; we use it as an effective battery and it can then, with some adjustments, be piped through to people’s houses to heat them during the winter. There are real opportunities with hydrogen.”
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