Immediate intervention is crucial to meet the UK's offshore wind targets, with an upcoming auction expected to deliver only half the necessary capacity, according to a report by energy think-tank Ember.
Ember's analysis suggests that unless the budget for the AR6 auction is increased by 25%, the UK risks falling short of its offshore wind goals. The report highlights the importance of higher funding to secure additional capacity, potentially averting a shortfall that could jeopardize future targets.
“This should be a no brainer,” said Ember analyst Frankie Mayo. “A higher budget for this summer's auction would immediately secure a real boost to the UK's offshore industry, a straightforward win for a new government within three weeks of power.”
The UK currently has 14.7GW of installed offshore wind capacity, with 13.3GW under construction or committed with government support. To achieve its 2030 target of 50GW, an additional 20GW needs to be delivered.
Ember's research emphasizes the necessity of robust policy support to ensure timely project delivery from the UK's strong pipeline of potential offshore wind projects.
The shift towards offshore wind is seen as a crucial strategy to mitigate the impact of volatile global gas prices on the UK's cost of living. Ember's analysis indicates that each additional 1GW of offshore wind capacity could significantly reduce reliance on gas, benefiting millions of homes.
