Here are some key factors for the UK: how do you think these compare to other places in the world?

• Ageing and inefficient coal power stations have been phased out primarily to control acid rain, and also to reduce CO2 emissions.
• Supplies of cheap natural gas from the North Sea are dwindling and must be sourced from elsewhere or replaced over time. Much of UK domestic heating is currently provided through gas, and this is likely to move towards electricity in the longer term.
• Nuclear currently plays an important role in the UK energy mix, though existing plants are reaching the end of their life and whether they will be replaced in the future is not yet clear, at least partly for economic reasons.
• Climate change targets such as those included in the Paris Agreementmean that the UK is committed to reducing CO2 emissions (Carbon Brief, 2015). Specifically, the UK government announced in 2016 a commitment to reduce overall climate emissions 57% by 2030 on 1990 levels (BEIS, 2016).
• Renewable energy is becoming increasingly financially viable and is playing an important role in the UK. The fourth quarter of 2016 was the first time that low carbon energy sources (nuclear and renewables) had provided over 50% of the UK’s electricity (Vaughan, 2016). From the website Electric Insights you can see the current mix of energy being provided in the UK.
• However, solar and wind renewable energy sources are intermittent (but easily predictable) – they are only available when the sun shines or the wind blows. As supply does not always match demand, this means energy storage technologies such as large scale batteries are likely to play an increasingly important role in the grid in the future.
• Renewable sources also require far smaller capital investment than traditional power stations, which means that generation of electricity can take place in homes and communities. The Bristol Energy Cooperative is a good example of this.
• Storage is also becoming possible as batteries come down in price. This gives the opportunity for people to be far more intimately connected with energy, and to actively get involved in its generation and management.
• There is a move towards a ‘Smart Grid’. Digital technology can increasingly be used to monitor and control energy both on a local and a wider scale. This, in particular, can be used to help match demand with supply, by storing energy locally when too much is supplied nationally or regionally, and using that locally when too much is demanded. The University of Bristol is experimenting with such approaches across the campus.
• According to the UK National Statistics office (BEIS, 2017), around 11% of households in England are fuel poor. This means that high energy costs would push them into poverty should they heat and light their home to an adequate level. The highest level of fuel poverty is found in the private rented sector, and among lone parents with dependent children. The government has committed to reducing fuel poverty by improving the energy efficiency of homes.
• Energy efficiency can reduce energy costs for the nation, and also reduce the size of ‘demand peaks’, meaning that less generation and storage capacity is needed.
• Intrapreneurship is the act of behaving like an entrepreneur while working within a large organization. Intrapreneurship is known as the practice of a corporate management style that integrates risk-taking and innovation approaches, as well as the reward and motivational techniques, that are more traditionally thought of as being the province of entrepreneurship.