One of the major challenges faced by the global world is CO2 emission, the problem with handling the intensity of the carbon so that the greenhouse gas emissions can be lowered out by burning fossil fuels. The focus is also reducing the CO2 output per unit for the electricity being generated. UK, one of the developed countries with a strong hold on its currency is also facing the issues with carbon storage facilities.

The survey result on Decarbonization’s economic effect in the UK by 2050 shows the key figures on economic effects of hydrogen and carbon capture and storage-led decarbonization in the United Kingdom.

In my opinion, the economical condition seems to be rising and the effect is positive. The decarbonization of the economy and its effect on the economical condition seems to positive with a billion amount of capital expenditure as well as demand of hydrogen or the CO2 captured are definitely showing a sign for the improvement of the economical condition by the decarbonization.

Source:- Element Energy; Equinor