Large-scale investment in offshore wind would generate more wealth for the economy and create more jobs than relying on gas-fired power plants, a report suggested on Tuesday.
Substantial deployment of offshore wind by 2030 would have only a marginal impact on electricity prices but would boost growth, cut dependence on gas imports and reduce emissions, the report for WWF-UK and Greenpeace said.
The study by Cambridge Econometrics compared a scenario with steady growth in offshore wind capacity in the 2020s with a power system where there was no new offshore wind post-2020, with significantly more gas used to meet electricity needs.
Focusing investment on wind power would create up to 70,000 more jobs in 2030 than relying on electricity from gas-fired power plants.
According to the analysis, which comes ahead of the government publishing its gas strategy this week, GDP would be £20bn (0.8%) higher in 2030 if there was a focus on offshore wind.
Via Olive Ventures