A new report has revealed that Greater Manchester's plans for carbon neutrality by 2038 will cost £64 billion. 

Around 70% of this money will come from 'business as usual' channels. As for the remaining £19 billion - local politicans hope that around two thirds of it could come from the public sector, whilst the remaining £6.5 billion could be leveraged from the private sector. 

A report from 2022 suggests that costs to meet the 2038 carbon neutral goal in Stockport would be between £7.2 billion and £8.3 billion. Stockport's forecasted annual electricity consumption is 2,222 GWh. 

The same report outlined some of the measures which could be implemented to reduce emissions. These included:

• 'Retrofits' to make buildings more efficient: The report describes "a basic fabric retrofit of approximately 51,500 homes and deep retrofit of a further 44,700 homes, requiring £720m of investment". 
• Increasing uptake of low-carbon solutions: In order to meet carbon neutral goals, all new cars, vans, and heating systems must be low-carbon. 
• Increasing production of local low carbon electricity and its storage: This could include increased solar panel usage. The maximum potential for rooftop and ground mounted solar panels would produce up to 1,049 GWh per annum of local, low carbon electricity, almost half of Stockport's forecasted energy usage. 
• Considering the future role of the gas grid: The report emphasises the potential impact of Hydrogen as a source of energy, although as yet "there is currently no guaranteed commitment for this to be considered a reliable means of supporting the decarbonisation of Stockport". 

Generally, the report concludes by suggesting a £5.8 billion capital investment in reducing emissions, split between energy networks, dwellings, and non-domestic buildings. Furthermore, it advises increased electric vehicle charging points (37,000), increased electrified heating, and increased use of hydrogen boilers, provided technology is sufficiently developed in time. 

Nonetheless, it admits: "It must be recognised that achieving carbon neutrality by 2038 is hugely ambitious and challenging and will require major local policy interventions, investment by government and industry and both technology and business innovation."

Others, however, remain more optimistic. Speaking of Greater Manchester's ambitions, Green City Region portfolio lead Harry Catherall said that despite the 'enormity' of the challenge, there is a 'high degree of confidence' that carbon neutrality by 2038 is achievable. 

You can download the full 118-page report on Stockport's local area energy plan HERE.

~

READ MORE: Stockport Council prepares to demolish Marple baths

~

Struggling with the cost of living crisis? Find out what help is available by clicking the government banners on this site.

~

Free from clickbait, pop-up ads and unwanted surveys, Stockport Nub News is a quality online newspaper for our town.

To get our top stories in your inbox each week, subscribe to our free weekly newsletter HERE.

Please consider following Stockport Nub News on Facebook or Twitter