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The Low Carbon Economy Ltd

20 May 2010 06:05:17

Potential for UK offshore energy 'exceeded expectations'

Potential for UK offshore energy 'exceeded expectations'
The Offshore Valuation Group claims that findings of its recent report on the potential for offshore renewable energy sources "exceeded expectations".

By the year 2020, the government intends to generate 40 per cent of the UK's electricity from renewable sources, so the new report could boost these plans.

Power generated from fixed and floating foundation wind turbines, wave and tidal stream and tidal range technologies was taken into account.

It predicted that if just 29 per cent of the potential energy from offshore sources were harnessed by 2050, carbon savings of 11 billion tonnes would be achieved in the next 40 years.

This level of energy from renewable sources would be the equivalent of both North Sea oil and gas production, which, it claimed, would make the UK "a net electricity supporter".

Further to this, the level of infrastructure required for the optimum use of these offshore energy sources was said to be "similar in scale to that of oil and gas in recent decades".

However, while the results of this report seem on the surface to be extremely encouraging, the authors admit that a number of variables are at stake which could affect the eventual outcome.

These include the future price of electricity and the development of the Europe-wide power market.ADNFCR-1235-ID-19790851-ADNFCR

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