The UK will need to maintain close links with the rest of Europe even if the country exits the EU in order to maintain a competitive edge in offshore wind, according to the Renewables Consulting Group.
RCG said that leaving the EU – referred to as Brexit – will mean the UK has little sway over European regulators who continue to oversee the UK energy market.
“Yet, the evidence predicts regulatory divergence will grow over time leaving the offshore wind supply chain less competitive against their European counterparts,” the consultants said.
RCG has launched a multi-client study to analyse the possible implication of the UK leaving the EU, the results of which will be released at the end of April.
RCG public sector practice head Steve Freeman said: “Today, the offshore wind industry is estimated to contribute over £1bn to the UK economy; a figure expected to grow significantly by 2020.
“Our research shows a Brexit is likely to put 2020 and 2030 renewables targets under threat, and with further uncertainty on the future sustainability of the industry.”
Image: reNEWS
