As well as the direct impact on UK Government strategy, insights regarding the impact of visibility and confidence in the market and regarding competitive dynamics on long-term cost reduction at different market scales have informed much subsequent thinking.
The study was commissioned after competitive tender by the Committee on Climate Change (CCC) to be used as evidence for its recommendations to the UK Government about its fifth Carbon Budget.
We produced the first quantitative study of the effect of government policy on the cost of energy from offshore wind. Focussing on the period of the 2020s, our detailed study identified the key elements of a policy strategy for offshore wind in that balances effectiveness in cost of energy reduction with efficiency in minimising support cost to UK energy users. The analysis covered a set of inclusive, holistic policy options including market scale, visibility, publicly funded R&D and other government-led interventions. Although focussed on recommendations for the UK, analysis considered the European market as a whole, under a range of scenarios and involved significant industry consultation and peer review prior to publication.
The report can be downloaded from our publications page.