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The Low Carbon Economy Ltd

12 Nov 2008 05:11:35

Offshore renewables turn over £32m

Offshore renewables turn over £32m
The offshore renewable energy sector now turns over £32 million a year, according to the Crown Estate.

In its report into the socio-economic indicators of the marine sector, the Crown Estate notes the rapid development of renewable energy.

It says that between 2003 and 2005 use of renewable energy grew by 22 per cent per year and that in 2005 it accounted for four per cent of the UK's electricity supply.

Offshore renewables accounted for 214 megawatts (MW), compared to 1,123 MW generated renewably onshore in 2005-06 but the report notes that the figures "have been massively overtaken by recent developments".

The report predicted installed offshore generation capacity in the form of wind, wave and tidal power would be 1.6 gigawatts by 2011.

It also recognised that while political drivers for the technology would continue, "wide uptake of offshore renewable energies must depend on production costs being competitive with conventional sources".

An earlier report by Ernst and Young cited by the Crown Estate said offshore energy cost between £73 and £280 per MWhour, significantly higher than conventional costs.

According to the British Wind Energy Association, wind power alone has an installed capacity of 2,752.315MW.



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