Meeting UK's 2035 Energy Efficiency Goals : Securing Greater Wider Economy Benefits Through Longer-Term Programmes

Katris, Antonios and Turner, Karen and Stewart, Jamie (2021) Meeting UK's 2035 Energy Efficiency Goals : Securing Greater Wider Economy Benefits Through Longer-Term Programmes. University of Strathclyde, Glasgow. (https://doi.org/10.17868/76997)

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Abstract

We use an economy-wide computable general equilibrium (CGE) model – UKENVI - to investigate how the implementation of residential energy efficiency programmes over different timeframes, targeted at different low income and/or more 'able to pay' households, may impact employment and GDP across the wider economy depending on the approach to funding. The approach allows us to examine how outcomes in different timeframes are likely to be affected by responses and adjustment in all markets and all sectors of the UK economy. The results should be understood as scenario simulations to isolate the impacts of both enabling (through retrofitting of UK homes) and realising energy efficiency gains (less physical energy required to run people's homes), assuming that nothing else is acting to change activity across the economy. Note that our model database predates the current COVID slump so that near term outcomes in particular may be regarded as conservative in terms of how capacity constraints may impact.

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