The offshore valuation: Wind potential can power six Britains

Exclusive from Offshore wind 2010 conference in Liverpool.

Wind potential can power six Britains, Tim Helweg-Larson the director of Publick Interest Research Centre (PIRC) said today at Offshore wind conference.

What is the total value of the UK’s offshore renewable energy resource? Could Britain become a next exporter of the renewable electricity to Europe? And what are the obstacles to this visions become reality? A seminal new study – coordinated by the PIRC and undertaken by Boston Consulting group – provides answer to those questoins. It argues that the UK has the opportunity to provide answer to these questions. It argues that the UK has the opportunity to repeat the successes of North Sea oil and gas by developing wind, wawe and tidal technologies to an industrial scale and seeking export market for their electricity in Europe.

The study provides in-depth analysis of how the development of UK supply chains, new technologies, and emerging European supergrid and novel finance mechanisms could turn the UK into a global leader in renewable energy. It looks out to 2050 to estimate the potential benefits from an optimal exploitation of the offshore reasource – in terms of exports of electricity, new jobs, energy security, and avoided carbon cost.

Tim Helweg-Larson is Director of the Publick Interest Research Centre (PIRC), an independent charity engaged in researching environment, energy and economics. PIRC seeks out ideas that supports the long-term public interest and communicates them to policy makers. Previous work by PIRC has included a pioneering plan for decarbonising the UK, Zero Carbon Britain, and Climate Safety, a report on the latest climate science. Tim trained as an engineer in renewable energy at Warwick University.