Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Britain Urged to Triple Offshore Wind Farm Construction Pace

by June 7, 2024
June 7, 2024
Britain Urged to Triple Offshore Wind Farm Construction Pace

Britain must accelerate the construction of offshore wind farms threefold to meet its crucial decarbonisation targets, according to a leading think tank, the Institute for Public Policy Research (IPPR).

The government has set an ambitious goal of achieving 50 gigawatts (GW) of offshore wind capacity by the end of this decade, a significant increase from the current 15GW. However, IPPR’s analysis suggests that, at the current rate, the target will not be reached until 2048.

Increasing offshore wind capacity is essential to meeting the government’s objective of decarbonising the electricity system by 2035. Labour has set an even more ambitious target of achieving net zero by 2030.

Despite having one of the most mature renewables industries globally, Britain has fallen behind other European nations in developing the manufacturing capacity for key wind supply chain components. The IPPR report claims that if Britain had fully exploited its potential for wind installation, it could have generated an additional £30 billion between 2008 and 2022, matching the efforts of countries like Spain and Germany.

Simone Gasperin, an associate fellow at IPPR, commented: “The UK has missed out on becoming a world leader not just in wind power but also in wind manufacturing. This has cost thousands of jobs, billions for the economy, and is putting future net zero targets for wind deployment at risk.”

To reduce import dependence and revitalize its manufacturing industry, the UK needs to produce more wind components domestically. The think tank recommends the construction of at least one additional blade factory, two nacelle and tower factories, and two extra foundation factories within the next five years.

An investment of £3.2 billion in British manufacturing facilities could create tens of thousands of direct and indirect jobs, particularly benefiting small and medium-sized businesses, according to IPPR.

The urgent need for Britain to step up its offshore wind efforts is not just about meeting environmental targets but also about maintaining economic competitiveness and securing energy independence. As other European countries forge ahead, the UK must act swiftly to ensure it does not fall further behind.

Read more:
Britain Urged to Triple Offshore Wind Farm Construction Pace

0
FacebookTwitterGoogle +Pinterest
previous post
Institute of Directors Introduces Code of Conduct for Business Leaders
next post
Ikea to Hire Virtual Staff for £13 an Hour in Roblox Metaverse Store

You may also like

UK Government must step up global AI safety...

August 17, 2023

Car Finance for Second-Hand Vehicles: What Are Your...

January 8, 2025

Government pledges £20bn for carbon capture and nuclear...

March 12, 2023

Consumers more likely to use Buy Now Pay...

December 7, 2022

Huel and Zoe ads banned over undisclosed links...

August 13, 2024

Exploring Various Cheats in Escape From Tarkov

January 20, 2023

Netflix begins password-sharing crackdown in the UK

June 25, 2023

Jim Ratcliffe’s Ineos forced to recall 7,000 cars...

March 13, 2025

Client courting: 3 tactics for building strong business...

July 7, 2023

British butchers see sales boost as plant-based alternatives...

July 4, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • How Long Does it Take to Learn Forex

      June 9, 2025
    • Trump’s spending bill heads to Senate where Republicans plan strategic adjustments to key provisions

      June 9, 2025
    • Digital Social Security cards coming this summer

      June 9, 2025
    • The Best Five Sectors, #22

      June 9, 2025
    • Half of Brits would trust AI for legal advice, survey finds – but experts urge caution

      June 9, 2025
    • Business leaders paralysed by risk warn BDO as caution stifles growth

      June 9, 2025

    Categories

    • Business (8,162)
    • Investing (2,019)
    • Politics (15,574)
    • Stocks (3,137)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved