How Net Zero can fund our School's energy bills.

How can schools be expected to think about net zero targets, when they cannot afford to pay teachers and energy costs?

This winter will see families suffering from the cold due to inflated costs. And this is because of greed, and not a shortage in fuel. If as a school you could either spend 900k with an energy provider for the next 10 years or spend 500K now, as a one-off, to go off-grid. Which would you choose?

Now - If the off-grid version is funded by green investments, then which one?

What Is Net Zero?

In order to achieve net zero emissions by 2050, the UK will need to make substantial reductions in emissions from all sectors of the economy including power generation, buildings, industry, transport, agriculture and waste. But how is this going to be funded?

How Much Will It Cost?

The cost of achieving net zero emissions by 2050 is estimated to be 1-2% of GDP per year. This is similar to the Annual Investment Allowance which allows businesses to deduct the first ￡1 million they spend on plant and machinery each year from their taxable profits. To put this into perspective, UK government is spending was ￡798 billion in 2019/20 which equates to approximately 38% of GDP. Therefore, achieving net zero emissions by 2050 would require government spending to increase by less than 2%.

What Are The Benefits Of Achieving Net Zero Emissions??

Achieving net zero emissions by 2050 would have numerous benefits for both the UK economy and society as a whole. These include?

• Reducing fuel poverty – 20% of all households?are in fuel poverty
• Improving air quality – costs the NHS around ￡2 billion per year in England alone.
• Creating jobs – it is estimated that around 2 million jobs could be created in low-carbon industries by 2030.
• Reducing dependence on imported fossil fuels – currently, the UK imports around 50% of its gas and 18% of its oil. Achieving net zero emissions would help reduce dependence on imported fossil fuels and make the UK more energy independent?
• Boosting economic growth – decarbonising the economy is expected to boost economic growth as investments are made in low-carbon infrastructure and technologies. For example, it is estimated that investments in offshore wind could add up to ￡33 billion per year to UK GDP by 2030?
• Helping meet international obligations – as part of the Paris Agreement, the UK has committed to reducing its greenhouse gas emissions by 80% (compared to 1990 levels) by 2050. Achieving net zero emissions would help meet this international obligation and cement the UK’s position as a leader in tackling climate change?