UK offshore wind is critical to decarbonise the power sector and reduce exposure to volatile gas markets. There’s still a gap between targets and capacity being delivered, but quick policy wins are available to boost the industry. This report “Getting UK offshore wind back into fighting shape” by EMBER looks at the impact of missing the 2030 target on UK gas reliance and plans to decarbonise the power sector. This analysis looks at reforms to the Contracts for Difference support scheme, and makes recommendations for delivering capacity at a pace and quantity high enough to meet targets.
Key highlights from the report show:
•20 GW of new offshore wind needed by 2030
•The next offshore wind auction will fall short without intervention
•Boosting the auction budget by 25% would cut the UK’s gas import bill
•In the longer term, the Contracts for Difference mechanism needs to be evolved
Access the complete report here
