The UK government can learn lessons from the roll out of offshore wind in the country as it transitions to a net-zero emissions economy, according to a new report from the Tony Blair Institute for Global Change.
The report – ‘An Efficient Energy Transition: Lessons From the UK’s Offshore Wind Rollout’ – said to achieve net-zero will require learning the lessons of past policy interventions.
Reflection and learning are essential if the country is to succeed, the report said.
It identifies eight lessons that can be learnt from the rollout of offshore wind that the UK government should apply to other net-zero technologies.
First, long-term political commitment is crucial to drive low-cost deployment and domestic benefits.
Second, tackling the cost of capital should be a central objective of policy.
Third, adapt support to the maturity of the technology, and, fourth, design markets around desired long-term outcomes.
The report also said that a healthy pipeline is key for competition and supply-chain development, together with partnership between industry and government to deliver sustained investment.
Strategic systems thinking is required for an efficient transition and a clear strategy is needed for securing domestic benefits.