Related Articles
Wind turbines off the coast of the UK
Forward article link
Share PDF with colleagues

Go bigger on offshore wind to cut UK net-zero costs – LCP

Displacing nuclear with offshore wind backed up by flexible thermal power plants and storage can cut capital costs

The UK could reach net zero faster and save almost £50bn ($70bn) by 2050 compared with its current trajectory by deploying more offshore wind than is currently targeted, according to new analysis from modelling firm LCP, commissioned by utility SSE. The system could then be balanced with peaking thermal plants and storage capacity. LCP’s analysis found a further £28bn of benefits would be delivered in the decade after 2050, bringing the total savings to £76bn. LCP's cost-saving scenario sees offshore wind capacity hitting 93GW by 2050, about 20GW more than the 2050 level implied by the government’s target of 40GW by 2030. "Anything we can do to reduce capital costs is going to b

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
ExxonMobil LNG announces 2021 Power Play winners
24 September 2021
Four remarkable professionals recognised across different categories that celebrate advances in diversity and equality and accomplishments in the LNG value chain
UK sets out plans for hydrogen
23 September 2021
Publication of the UK’s Hydrogen Strategy is a welcome step forward, but the sector is still nascent and more detail is required
China wind power set for rapid growth and plunging costs – Wood Mackenzie
22 September 2021
Onshore wind costs expected to drop by 46pc by 2030 as state policies drive sustained capacity growth, consultancy says
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video