Ahead of next month’s UK general election, RenewableUK has published new polling which shows overwhelming public support for a cross-party consensus on maximising investment in renewable energy projects to drive down consumer bills and increase Britain’s energy security.
The trade association has also published new independent research which demonstrates the lowest cost electricity system which future governments could build by 2035 is one dominated by offshore wind
New polling by Opinium of 10,021 people in the UK, commissioned by RenewableUK, shows 79% of voters want political parties to work together to create a consensus on maximising investment in clean power.
This support exists in the current voters of all political parties, with 81% of Conservatives, 86% of Labour, 89% of Lib Dem, 82% of SNP and 69% of Reform UK voters in support, according to the polling.
The new analysis by Aurora Energy Research for RenewableUK demonstrates an electricity system which is dominated by offshore wind by 2035 is cheaper for bill-payers than alternatives such gas (with or without carbon capture and storage), or importing power from abroad via interconnectors.
Aurora’s analysis factors in all costs of running each of these possible electricity systems, to make clear that managing the variability of renewables does not override the benefits for billpayers of transitioning to a clean system.
The analysis found bill-payers would be around £68 a year better off by 2035 with an energy system dominated by offshore wind, compared to a scenario in which government did not proactively encourage investment in clean power.
A scenario in which the UK scraps its net zero ambitions in favour of unabated gas would not only leave consumers £39 a year worse, but would also leave billpayers exposed to the risk of being over £133 worse off each year if the UK were to experience sustained high gas prices, as we have in recent years, RenewableUK said.
The analysis highlights the fact that wind offers security for billpayers against fluctuations in the cost of imported gas, as the new offshore wind capacity which governments procure in their annual auctions for clean power is secured at a fixed price, so offshore wind companies pay back to billpayers during periods of high electricity prices.
RenewableUK’s chief executive Dan McGrail (pictured) said: “Aurora’s research shows that shifting to an energy system dominated by offshore wind and renewables is the best decision for billpayers – and that’s including all the costs involved in managing the variable generation of renewables, such as storage and network upgrades.
“That’s why we’re calling for a consensus among all political parties on the need to focus on maximising private investment in renewables in every annual auction for new contracts to generate clean power.
“We hope the manifestos of all the main parties will reflect the high level of public support for moving faster on renewables.
“The UK should be much more ambitious about the number of wind farms we confirm each year, sending a positive signal to investors in new projects and manufacturers in new supply chains, as well as securing cheap electricity for billpayers and boosting our energy security.
“The research is also clear that scrapping net zero policies would leave billpayers worse off, and more exposed to volatile international gas prices.”
Senior associate, UK & Ireland Advisory, at Aurora Energy Research Malavika Gode added: “Based on the findings, the team at Aurora Energy Research found that additional offshore wind capacity is one of the key pillars of a decarbonised power system.
“A power system with a substantial amount of offshore wind can provide a buffer against global gas price volatility.”