UK’s low carbon and renewable energy economy jumps by a third in a year

The UK’s low carbon and renewable energy economy (LCREE) generated £54.4 billion in turnover, an estimated 30.8% increase since 2020.

The national statistics agency has presented earlier today its estimates regarding the growth of the LCREE.

It said this growth accounted for the employment of 247,400 full-time equivalents, which was a 16.4% increase since 2020.

The Office for National Statistics added that turnover and employment rates are both at their highest level since the first comparable figures in 2015.

It also suggests the energy efficient products group had the highest LCREE turnover in 2021 at £19.6 billion and the highest LCREE employment at 138,300.

Pete Chalkley, Director at the Energy and Climate Intelligence Unit, said: “The net zero economy is most pronounced in levelling-up areas like Teesside, Merseyside and the Humber with jobs paying on average around £10,000 more.

“Given the US and the EU are now in an arms race to claim green industries, the question is does the UK have the plan to compete?

“The UK’s electric vehicle industry grew significantly over this period, but jobs are on the line if we fail to move with the times. We’ve been left with a rusting car industry once before.”