Tuesday 12 March 2024

‘UK’s low carbon economy sees record growth’

The UK's low carbon and renewable energy economy (LCREE) experienced significant growth in 2022.

That's according to the Office for National Statistics' latest report, which suggests turnover reached £69.4 billion and employment expanded to 272,400 full time equivalents (FTEs).

This represents a notable increase from the previous year, with turnover rising by 28% and employment by 8%.

Within the LCREE, the low carbon electricity sector led in turnover at £29 billion, while energy efficient products had the highest employment figures at 134,900 FTEs.

Electricity, gas, steam and air conditioning supply accounted for the highest turnover among LCREE industries (£22 billion), while construction had the largest employment with 99,100 FTEs.