An Industrial Strategy for Clean Power
The CBI has announced that the UK’s “green sector” is growing at three times the rate of the wider economy: developing domestic supply chains for clean energy as part of the clean power transition has the potential to spur UK economic growth.
The OECD has said that "the development of secure and competitive supply chains in clean energy technologies is critical to ensure a resilient clean energy transition and energy and economic security".
Building on evidence received in an inquiry before the election on securing domestic supply chains for low carbon technologies, the Committee will hold a one-off update hearing on the UK’s Industrial Strategy for Clean Power.
Meeting details
In October 2024 the Government introduced its vision for a modern, decade-long industrial strategy called Invest 2035. Its goal is to attract a greater share of global investment in crucial sectors of the economy and support the growth of domestic businesses.
The Committee will explore the Invest 2035 strategy can best support UK manufacturers; how to identify the sectors with the greatest impact in supplying the clean power transition and the greatest potential for growth, and to assess how local supply chains can be developed to help meet the objectives of the strategy.
The Committee will address questions including:
- How can UK plc capture its fair share of the economic potential of emerging or less developed energy technologies?
- What more can the Government do to encourage greater domestic supply chain investment in the energy industry by 2035, including through the Contracts for Difference scheme?
- Does the UK have the supply chain capacity to deliver the required energy infrastructure by 2035, including an expanded electricity network?
- To what extent would growing the domestic supply chain bolster UK energy security?
- What are the key concerns with respect to the availability of raw materials in the supply chain and how might those be addressed?