Offshore Wind Spending may increase to £12.8bn a year

24 June 2013
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24 June 2013, Comments: 0

£12.7m a year is the figure that forecasters have suggested the global wind industry will be spending over the next decade, in order to develop the offshore sector. It is suggested that wind installations will average 3.2GW every year for the next ten years, peaking in cost to £15.4bn in 2016. There  are a number of factors that have influenced this projected increase in cost : Low Carbon Targets – the government is continually promoting the long-term global benefits of homes and businesses reducing their carbon emissions. In particular with regards to business, where penalties are enforced if they do not meet their agreed carbon footprint figures. Rising Energy Demand – Demand across the UK is constantly increasing year-on-year as the population in the UK continues to grow, together with increased consumer electricals. Ageing Power Generators – So much press has been given lately to the fact that the UK’s power infrastructure is hopelessly out-dated and there are real concerns going forward that the infrastructure will struggle to cope in the future as demands increase and the infrastructure is not up-dated. The UK has been the main driver of growth in this development area, and a recent report published stated that the UK was in sixth place in Europe in terms of renewable investment.Unknown-1

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