The 2008 Climate Change Act made Britain the first country in the world to set legally binding “carbon budgets”. These budgets have the ambitious aim of cutting UK emissions by at least 80% by 2050. The task of the Carbon Trust is to accelerate this process. To date, the Carbon Trust has helped its customers save around GBP 2,6 billion in energy costs and it expects to save over 20 million tonnes of carbon a year by 2050 through its work to promote low carbon technologies.
Accelerating new technologies
The Carbon Trust provides specialist support to business and the public sector. It also works together with industry and experts to accelerate the development and deployment of low carbon technologies in the UK by targeting areas where the Carbon Trust can make the biggest difference.
Cutting carbon now and in the future
The Carbon Trust works to cut carbon emissions here and now – and to assist emerging technologies via long-term projects that can deliver cuts in future carbon emissions. Research Challenges are used to further the commercialisation process of technologies that show promise, but which have not yet entered the market. For carbon technologies that are already commercialised, specific technology “accelerators” are introduced with the aim of opening markets.
"The Carbon Trust has helped its customers save around GBP 2,6 billion in energy costs and it expects to save over 20 million tonnes of carbon a year by 2050 through its work to promote low carbon technologies."
The Offshore Wind Accelerator (OWA)
The flagship Offshore Wind Accelerator (OWA) targets the accelerated deployment of offshore wind in the UK by reducing the cost of energy. Its goal is to reduce the cost of offshore wind by 10% through innovation. According to the Carbon Trust, offshore wind in the UK has the potential to deliver a 7% reduction in UK carbon emissions versus 1990-levels.
The Marine Renewables Proving Fund
The Marine Renewables Proving Fund is a GBP 22,5 million grant scheme with the goal of proving that full-scale marine energy devices can be installed and operated in open sea environments.
The initial research challenge produced 31 applications, of which 8 were selected following a technical and financial evaluation. Each received an average grant of over GBP 3 million, as well as expert assistance from the Carbon Trust. Full-scale prototypes will have been installed and generating by the end of the 2012 summer weather window, thereby boosting confidence in the marine energy industry and opening the path to private sector investment.