Offshore wind could meet 35% of the UK’s electricity demand by 2030, according to a new report.
It states the sector “is getting cheaper with the level of subsidy dropping by 38%” and the technology “is on track to be competitive with other new generation sources by the mid-2020s”.
It adds offshore wind has become “the most productive of all the renewable technologies” and this improvement is set to continue as the newest wind farms “are already operating at load factors of up to 50%”.
The report went on to say the renewable technology is attracting global investment, with more than £9.5 billion invested since 2010.
That was encouraged by a “stable and predictable regulatory regimes for renewable energy”, according to OFFSHORE WIND WORKS – an initiative involving UK offshore wind players.
It adds the sector is creating skilled jobs around the country and already provides employment for 13,000 people. The figure could rise to 50,000 by 2030 across development, supply chain, construction and operational roles, it claims.
Government-assisted exports from local offshore wind companies in 2014/15 were worth £90 million – up from £1 million the previous year, the report claims.
Benj Sykes, Co-Chair of the Offshore Wind Industry Council said: “What we need to see is a clear pathway for offshore wind through to 2025.
“This will provide the UK with the best opportunity for cost effective decarbonisation and ensure we maximise the export opportunity for the UK supply chain.”