Innovation Challenges

We have identified a number of specific technology innovation challenges within the offshore renewable energy industry, the resolution of which will help drive down the cost of offshore renewable energy, and have a positive impact on the UK economy.

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The Offshore Renewables Opportunity

The global potential

The ultimate potential for offshore renewables is truly enormous.

The UK has sufficient natural resources of offshore wind, wave, and tide to provide all of our energy, including transport and heating, with plenty to spare for export to Europe.

Hundreds of billions of pounds worth of offshore wind farms will be built in the coming decades. By 2020, 10GW will be installed in the UK, 6.5GW in Germany, 2.2GW in Denmark and 1.6GW in the Netherlands. China is on track to have 5GW of offshore wind by the same date. By 2030, up to 30GW in UK waters alone looks increasingly likely, and the US will see rapid growth to an estimated 22GW. Global investment in offshore wind projects between now and 2030 is likely to exceed £250bn.

 

 

Offshore renewables are therefore on course to provide much of the affordable and secure energy needed to power the UK economy and, when combined with the global export potential, represent the largest clean growth opportunity for the UK economy. To ensure UK industry is competitive and therefore capable of delivering the full potential for jobs, exports and economic growth that the sector offers, innovation to improve generating plant and operational performance is essential.

Accelerated innovation is also key to sustaining and improving upon impressive progress to date in reducing the cost of offshore wind energy. Over the next five years we will invest in the areas where we can best apply and enhance our unique capabilities to support innovative UK companies.

 

 

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