Now renewables are the cheapest source of energy, it’s time to rethink UK policy
The results of the yesterday’s government auction for renewables procurement has taken the entire energy sector by surprise. Clearing 860 MW at £75/MWh in 2021 and 2.3 GW at £57/MWh in 2022, it revealed that the cost of offshore wind has dropped by 65 per cent in under five years. This result comes close on the heels of a report from Renewable UK, highlighting that the UK’s offshore wind industry has now increased its domestic content to 48 per cent and is in the process is providing almost 20,000 direct and indirect jobs. Heavy investment during the industry’s nascent years has yielded tremendous results and the UK can confidently stake its claim to be the global leader in offshore wind.
Credit where credit’s due, the UK has shown strong leadership in tackling climate change. We were the first major economy to commit to phasing out coal fired power and we’ve set ambitious, legally binding carbon budgets up to 2032. We’ve also made strong progress towards meeting these carbon targets, having achieved our 2020 target five years early in 2015. 
This post is by Jonathan Gaventa, director of E3G.
This blog is by Amy Leppänen, communications assistant at Green Alliance.
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