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Over the coming decade a quarter of the UK’s electricity generating capacity will shut down as old coal, oil and nuclear power stations close due to their age or environmental regulations.
At a time when we are losing generating capacity, electricity demand is expected to double as we use more electricity for heating and surface transport in an effort to reduce carbon emissions.
Renewable energy could play an important role in filling this gap and help keep the lights on. The UK has the best wind, wave, and tidal resource in Europe, but it’s an unfortunate reality that we’re not realising the full potential of a UK renewables industry, not only to help meet our energy needs but also to strengthen our economy, providing jobs, skills, and investment, and in the longer term, a more stable electricity price.
The Government has estimated that if the energy mix does not diversify, and we continue to be exposed to volatile fossil fuel prices, then the average household electricity bill will be around £200 higher in 2030 than today. They estimate that generating more electricity from renewable sources, along with other measures, will limit the increase to £160.
Marine renewables, such as offshore wind, wave and tidal, have the potential to make significant contributions to the UK energy mix once the technology and supply chain is further advanced.
These technologies are, however, more expensive and the country therefore needs to maximise opportunities for onshore wind to help keep electricity bills down. |
