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12 May 2021updated 05 Nov 2021 9:31am

UK government should set new 2030 renewables targets – report

Policymakers should establish ambitious 2030 renewables targets to keep the UK on track to hit decarbonisation targets, says RenewableUK, an industry body.

By Energy Monitor Staff

The UK government should set new deployment targets for onshore wind, floating wind, renewable hydrogen and marine energy before the UN climate summit in Glasgow this autumn, says RenewableUK, a London-based trade group, in a new report.

Free Report
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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

“The government needs to set out a detailed road map with specific milestones for the key renewable technologies which will get us there – starting with targets for 2030,” says report author Nathan Bennett.

wind-turbines-East-Kirkbride-Scotland

Turbines at Whitelees wind farm, East Kilbride, Scotland. (Photo by Jeff J Mitchell/Getty Images)

Last month, UK Prime Minister Boris Johnson announced a new target to reduce greenhouse gas emissions by 78% by 2035. That target “can only be achieved by setting out clear milestones” for renewable energy development through 2030, argues RenewableUK.

The report urges policymakers to install 30GW of onshore wind, “the cheapest form of new power generation” in the UK, by 2030 and to adopt policies to encourage the repowering of existing onshore wind farms with more powerful new turbines. The government should also double the existing floating wind target to 2GW by 2030 and install at least 5GW of green hydrogen electrolyser technology capacity by the same year.

RenewableUK urges policymakers to promote growth in the marine energy industry by setting a 2030 1GW deployment target and providing financial support to the nascent sector via inclusion in future contracts for difference auctions and government-supported power purchase agreements.

Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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