New number-crunching from the UK government-industry technology development body Offshore Renewable Energy (ORE) Catapult has highlighted the country’s offshore wind industry could be worth almost £3bn ($3.7bn) by the end of the next decade.
The report – Economic Value of Offshore Wind: Benefits to the UK of Supporting the Industry – underlines that the UK economy is “already reaping the rewards” of a rapidly maturing offshore wind sector, but points to a “significant” increase in the economic return for Britain if the sector can continue its subsidy-freeing cost reduction progress while tying in a larger percentage of local content in projects being brought online.
