Is there any relation between decarbonization to our economy? Is there any impact on the economy? Are there any real facts? Or Just an economical hypothesis? Decarbonization means the reduction of carbon dioxide emissions. It can be done by the use of low carbon power sources. It results in achieving a lower output of greenhouse gases in the atmosphere.
One major challenge faced by the global world is CO2 emission. The problem in handling the intensity of the carbon is hardening. The focus is on reducing the CO2 output per unit. Due to which electricity being generated. The UK, one of the developed countries facing a tough time with carbon storage facilities.
The survey result on Decarbonization’s economic effect in the UK by 2050. The key figures show the 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. Firstly, capital expenditure of billion amount. The second, demand for hydrogen. Third, the CO2 captured shows a sign for the improvement of the economical condition by the decarbonization.
Source:- Element Energy; Equinor; Statista