A new report shows that awarding contracts for 5 GW of new onshore wind power between 2019 and 2025 could deliver a net payback to UK consumers of £1.6 billion.
A new report titled The Power of Onshore Wind from renewable-energy consultants BVG Associates shows that awarding contracts for 5 GW of new onshore wind power between 2019 and 2025 could deliver a net payback to UK consumers of £1.6 billion.
The study analyzed five Contract for Difference (CfD) auctions held from 2019 and at 18-month intervals thereafter. Each has a maximum capacity of 1GW.
Forecasts show that the costs of new onshore wind projects will drop beneath the government’s forecast wholesale electricity price from 2023, delivering a net benefit for UK electricity consumers, the report states. ScottishPower Renewables, Vattenfall, innogy, and Statkraft provided support for the study, and BVG issued it in concert with the first-ever Onshore Wind Week in the UK.
Over the five auctions,86% of the projects by capacity will be built in Scotland and 12% in Wales. Less than 2% will be built in England, according to the study. Around 18,000 skilled jobs will be supported during the peak years of construction, with 8,500 people employed in long-term skilled jobs when all the wind farms are operating.
“The UK Government has identified clean growth as a grand challenge for the future,” said Guy Mortimer, Vattenfall’s UK head of onshore wind development. “With political support, onshore wind, as evidence from the BVG report confirms, will rise to meet that challenge, lowering bills for British households and creating interesting and inspiring jobs for British workers.”
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