Policy, innovation and cost reduction in UK offshore wind

How UK policy drove the green growth success story of UK offshore wind.

FCO policy, innovation and cost reduction in UK offshore wind

Overview

The price of UK offshore wind is less than a third of what it was a decade ago and is now cost competitive with new fossil fuel generation. In parallel, the industry has grown and matured to a point where companies are competing to enter the market and pension funds are comfortable in investing billions of pounds into construction of offshore wind farms.

Publication date: Jul 2020

About this report

This report shows how policy has been central to delivering this outcome, particularly ‘demand-pull’ policies that successfully created a market for offshore wind. Drawing on an extensive programme of interviews with key industry players and policymakers in the UK, the report provides analysis of the ways in which policy has impacted the innovation systems that enabled this substantial cost reduction.

 

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