UK needs to invest more in low-carbon technologies

LONDON (Reuters) - Britain needs to invest more in low-carbon technologies to reach its goal of cutting harmful greenhouse gas emissions by 80 percent by 2050, a climate advisory body to the government said Monday.

The UK aims to reduce its greenhouse gas emissions by 80 percent by 2050 from 1990 levels to help fight climate change.

As part of this goal, low-carbon technologies will be vital to generate cleaner forms of electricity, for electric vehicles, heating and delivering energy-efficient buildings, the Committee on Climate Change (CCC) said in a report.

"Without government support, a range of essential low-carbon technologies are likely to get stuck in a so-called 'valley of death,' where development is curtailed and will fail to make it to market," it said in a statement.

Reducing current funding levels of around 550 million pounds ($843.6 million) per year would increase the chance of missing commitments laid out in the UK's carbon budgets.

The UK could also miss out on opportunities to build a greener economy, the committee warned.

Britain's spending on energy research, development and deployment as a percentage of gross domestic product lags behind other developed countries.

"By international standards our spending is very low here. The U.S. spends three times as much as we do relative to GDP on low-carbon innovation," David Kennedy, chief executive of the CCC, told the BBC's Radio Four Monday.

To support the development of technology, the UK needs to focus on developing and deploying offshore wind, wave and tidal power, carbon capture and storage (CCS), smart grids and meters, electric vehicles and aviation.

"The UK should also deploy nuclear power, advanced insulation technologies, CCS for industry and heat pumps," the committee added.

It should also be investing in the research and development of hydrogen fuel cell vehicles, third generation solar photovoltaic technology, electricity storage and advanced bio-fuel technology.

Currently, the funding which supports low-carbon innovation is complex and is difficult for business to navigate. The government needs to strengthen the framework to ensure public money is well spent, the CCC added.

(Editing by James Jukwey)

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