Solent Low Carbon Economy Business Case

Future Solent Board Sponsor

Project Leader

Ian Williams (UoS)

Committed Organisations

The University of Southampton

Project details

To ensure the most appropriate actions and projects are taken forward to deliver a low carbon economy and capitalise on the economic benefits..

How it delivers the priorities

Priority 1: New Low Carbon & Green Technology

Identify the most appropriate opportunities to take advantage of world-class research & development within the Solent area.

Priority 2: Resource Efficiency in Homes and Businesses

Identify the Solent’s starting point and the opportunities and actions to improve resource efficiency and the value of this to the local economy.

Priority 3: Generation of Secure, Renewable & Low Carbon Energy in the Solent

Bringing together Energy Strategies of the local authorities will illustrate a common vision of energy security, renewable and low carbon energy across the Solent area. Identifying this common vision encourages a united front to work together to achieve this vision.

How it delivers the expected outcomes

Promote business growth

By ensuring the most appropriate actions and projects are taken forward will provide opportunities for the green economy to grow and expand.

Create new/safeguard jobs

Business growth with provide opportunities for the creation of new jobs or the ability to safeguard existing ones.

Develop an appropriate skills base

The growth and expansion in the green industry i.e. renewable, energy, sustainability, will require and provide the opportunity to establish new skills in a growing industry. For the green economy to grow the appropriate skills base will need to be established.

Measureable carbon reductions

Working towards a low carbon green economy will instigate initiatives, schemes, projects and business ventures with the ability to reduce carbon.

Next steps...

Tasks

1. Establishing baseline information and mapping data

Utilising regional data from SEEDA, and more local data from local authorities in the PUSH/LEP area establish in map form locations of ‘green’ business hot spots (i.e. businesses engaged in, or expecting to expand into the green/low carbon technology sector) .Trawl known sources of data that identify and quantify businesses and the type of ‘green’ product they deliver, preferably by post code area. Establish level of confidence in the data. Produce visuals as mapping or GIS overlay.

2. Identifying strengths, weaknesses, opportunities etc that mapping suggests

Analyse mapping data and assess through a SWOT process where greatest opportunities lie, which “green economy” sectors are growing, and which if any are plateaued or in decline. Which areas have the potential to grow further given the right conditions and support? Discuss criteria that will enable level of confidence in outcomes to be established. Profile and consider likely impact of competition from other sub-regional LEP and City Deal programmes. Produce as report and graphically to illustrate future trend.

3. Assessment of what low carbon activities Future Solent should concentrate on

From the mapping and SWOT analyses, moderated by the level of confidence assessment, establish which green/low carbon economic sectors are likely to have the greatest potential for growth in the Solent area, where these are likely to be and what scale of benefit can reasonably be expected to be achieved (existing businesses expanded, new businesses established, ‘green’ jobs created, carbon reduction delivered etc . Task 4 will establish and quantify appropriate outcomes ). Produce as report and graphicals.

4. What outcomes should be sought, and in what timescales

Based on the assessments above, determine what objectives should be sought to achieve the overall vision of the Future Solent Strategy for ensuring that developing the “green economy” locally delivers growth, jobs, new skills and carbon reduction. Including delivery timetable, milestones and appropriate criteria to measure improvement. Delivery: Strategic plan, gannt chart etc.

5. What type of initiatives and investment will be required to deliver these outcomes including the level of investment required and the business case/likely economic return from this investment to investors and to the sub-regional economy

Priorities for action. Type, level and timing of actions and level of commitment required. Business case/likelihood of achievement. Resources required and from where. Anticipated return on investment for investors and for the sub-regional economy. Contribution to overall LEP objectives. Delivery: Report with prioritised recommendations.

Recent Developments

Mapping and data gathering has begun (September, 2013)

Two students from the University of Southampton are carrying out tasks 1 and 2 as part of their third year dissertation project (July, 2013)