A report from the Institute for Public Policy Research (IPPR) has revealed that the UK is facing significant challenges in meeting its offshore wind targets, with potential repercussions for jobs, revenue and its net zero ambitions.
The report indicates that at the current pace of installation, the UK will miss its 2030 offshore wind target by a generation, highlighting the need to triple the rate of installation to get back on track.
Key barriers to progress include low levels of manufacturing capacity in critical components such as nacelles, blades, towers, foundations and cables.
Compared to other European nations like Denmark, Germany and Spain, the UK lags in manufacturing capacity across these components.
The report estimates that the UK missed out on up to £30 billion in economic benefits between 2008 and 2022 due to underutilisation of its wind installation market.
However, it also highlights the UK’s potential to increase its specialisation in wind manufacturing, leveraging its existing green industries and innovation ecosystem.
To seize this opportunity, the IPPR recommends significant investment in wind manufacturing facilities, which could generate tens of thousands of jobs.
Failure to capitalise on this opportunity, the report warns, could jeopardize net zero targets, energy independence and economic growth.
Policy suggestions include ensuring developers have long term contracts, supporting businesses to expand manufacturing capacity through targeted grants and public-private investment and upgrading infrastructure such as ports and naval vessels.
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