Fusion energy is “closer than ever” and the UK government believes that the time is right for decisive and strategic action to make the most of an annual market that in 2100 could be worth around £52bn, rising to £167bn if the capital cost of fusion power plants could be reduced by 30%.

In a paper outlining the government’s fusion strategy, the Department for Business, Energy and Industrial Strategy said the realisation of fusion energy will require continued collaboration with other nations and international organisations, with academia and technical experts, and with businesses and industry groups all around the world.

“The challenges of fusion energy remain considerable,” the paper says. “As with any technically demanding goal, there will be setbacks. However, advances in fusion science and engineering capabilities mean that there is increasing confidence in the fusion sector’s ability to overcome these.”