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rst supported the deployment of offshore wind, it generated und three times the market price. Few people guessed that within a ould fall by 70 per cent, allowing offshore wind to provide electricity market price.
imed to deploy 20 GW of offshore wind in the UK by 2030. With the announcement last year Ten Point Plan for a Green Industrial Revolution, we doubled that target to 40 GW by 2030 – y home in the country. Meanwhile, the number of high-quality jobs supported by the industry and ues to grow.
that progress in clean technologies has been faster than expected. The amount of solar power 20 was over ten times higher than experts had forecast only fifteen years before. Similarly, the share of electric vehicles in global car sales continue to be revised radically upward. As we of the Paris Agreement within reach, and to maximise the benefits of the transition to net zero hat we learn the lessons of these successes.
ernment issued new guidance on policy appraisal in contexts of transformational change. This he future is uncertain, the aim of analysis is less to predict outcomes precisely, and more to find – places where a small intervention can have a large effect. I am delighted that researchers from nd Brazil are working together to deepen our understanding of where such leverage points for e can be found, and to apply this to addressing climate change and ecosystem degradation, our ge.
gy Agency has estimated that without international collaboration, the transition to net zero global ayed by decades. On the other hand, if we work together, we can innovate faster, realise larger d create stronger incentives for investment. As countries of the world come together at COP26, this positive vision. With determined action and sustained collaboration, we can create new s while securing a safe climate for the future.
ENABLING A MORE RAPID AND EQUITABLE ENERGY TRANSITION
A SUMMARY OF THE ECONOMICS OF ENERGY INNOVATION AND SYSTEM TRANSITION
ck Bridge eign Secretary's Special Representative for Climate Change eign, Commonwealth & Development Office
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