Many countries look to the UK / Europe for their leadership, and net zero is a positive economic opportunity, with the potential to deliver large amounts of good quality jobs. We were leading in innovation but then under Cameron’s leadership, the government cut renewables subsidies. This led to redundancies in the solar sector in particular.
The conservatives were very much in bed with the oil and gas industry at the time. Had they continued to support renewables, as a nation today, our energy network would be more resilient and our personal bills would be lower. We’d be less reliant on the actions of foreign governments.
Manufacturing isn’t helped by high energy prices, but if businesses can afford to invest in renewables, they can go a long way towards offsetting the costs.
The main constraint is our poorly maintained and no longer fit for purpose energy grid. If one was to set up a new factory running on mains power, the grid typically requires upgrading in order to make sufficient supply possible, usually at the business’s own expense. And UK businesses are often not be able to export excess energy generated by the factory and make additional income by selling it on to another user.
So if there’s a choice between setting up in the UK vs somewhere with better infrastructure, businesses have gone elsewhere. There is this perception that businesses are responsive to only tax, but it isn’t true. Most businesses, and especially light / heavy industry, need solid infrastructure. Power, water, broadband, transport links. Successive governments in the UK have neglected to maintain / invest and instead have privatised. Although there’s a lot I don’t like about the current Labour government, their attention to our national energy supply is a positive thing.