Meeting the net-zero target and rising energy demand is at the core of the UK and Scotland’s commitment to resolving the climate emergency, and Sir Ian Wood believes that an energy transition is crucial in delivering both.
Sir Ian Wood has published a statement concerning energy transition, expressing the intent of his company Opportunity North East to bring about the transformation that the region needs to create a better future, which includes offshore wind, oil and gas, carbon capture usage and storage (CCUS) and hydrogen production.
In line with this, a recent survey revealed that most UK households are willing to try hydrogen as the domestic fuel to power up homes. Consequently, advocates are pushing for Hydrogen Fuel Cell Electric Vehicles (FCEVs) in the transport sector to usher the goal of a carbon-neutral economy.
Chairman of Opportunity North East Sir Ian Wood tackled the need for an integrated approach to energy transition to face the challenge that is climate change. He cited that delivering net-zero emissions and meeting energy demands are top priority and should work hand-in-hand.
He made an example of the North East of Scotland, stating that it has over 50 years of expertise in energy, and cites the need to reimagine the future of the North Sea to make the ambitious target a reality.
Sir Ian Wood pointed out the crucial role of offshore wind in increasing the UK’s capacity up to seven-fold over the next decade. He cited Equinor’s floating offshore wind project ‘Hywind’ and its promising potential to electrify the North Sea. He believes that establishing an offshore network enables the delivery of clean energy to the grid, production of green hydrogen, and powering up of facilities.
According to the Committee on Climate Change, CCUS should reach up to 176 million tonnes in 2050, but it is zero right now. This could prove to be a tough target if if the Government does not apply an emergency status to hasten the implementation of projects to foster CCUS.
Sir Ian Wood mentioned his company’s partnership with the North East Carbon Capture Usage and Storage Alliance (NECCUS), building projects designed to help move things forward, but he also reiterated that the industry and Government need to speedily back five or more projects to meet goals.
He further sent words of encouragement to the industry’s key players, to create a more integrated approach to energy transition and secure funding available to contribute to the 2050 net zero economy target of the UK.
Talks about utilizing hydrogen as domestic fuel have been abuzz in recent years, and a survey by Newcastle University researchers proved that UK households are on board with the idea.
The survey involving the general public showed that 87% of the respondents were amenable to using hydrogen in their homes, and 70% believe that it is environmentally beneficial.
However, cost remains a significant concern in the use of hydrogen as domestic fuel.
The research proponents call on the public to engage in more discussions regarding blended hydrogen to foster awareness and acceptance of its potential home use.