Retail sales down, car sales down, property sales down!
Maybe consumption really is going out of fashion?
One industry which is actively seeking decline and in fact incentivises it is the electricity supply industry.
Power production in the UK which now comes 25% from renewables is down 1% in absolute terms since 1994. In that period our economy has doubled in size and we have experienced a population growth of about 8 million.
The fact that renewable supply varies according to the weather and that an increasing amount of demand is driven by time discretionary needs such as battery charging has led to the growth of the Negawatt industry. That is consumers paid NOT to consume at various times because if you plug your car in for instance in the evening and dont need it until the morning, who cares at which points of the night it is charging, same thing with refrigeration and heating, both of which are not impacted by short term supply reductions.
The neggawatt industry will drive down demand for new capital intensive power generation projects over the next few years and drive down emissions as we will be able to fully maximise renewables.
I wonder how other industries will grasp the opportunity to grow via decline?
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