The rising costs of everyday life have become almost too much to bear for some people, and as the world attempts to implement measures to bring the cost of living down, many nations have turned to the renewable energy sector to reduce electricity costs. One such nation is the UK, which has recently seen a new study noting that the wind power sector, which the United Kingdom has embraced with open arms, has saved the nation billions in power costs since 2010. The new report concludes that the wind power sector provides energy security for a nation embroiled in local politics, splitting opinion.
The wind power sector has grown rapidly over the past 13 years, boosting domestic energy production
Wind power has existed in some form for hundreds of years, but only recently got the attention and subsequent investments needed to bring the technology to the forefront of the global energy community’s collective mind.
While some nations lean on solar power, the United Kingdom has embraced the wind power sector like a welcome home party for a soldier. That warm embrace and promotion of the sector has saved Britons billions of pounds over the past decade or so.
Since 2010, the UK has experienced a boom in new wind power projects being commissioned under several administrations. Regardless of political affiliation, the government can not deny the potential and documented financial savings that the sector has provided and will continue to provide in the years to come.
A new study has found that the United Kingdom has benefited massively from the increase in wind power generation
The scientific theory that any action has an equal and opposite reaction has become all too evident in recent years. By embracing the wind power sector, the UK has shifted the narrative from the old to the new. A study by the University College London has found that the United Kingdom has saved an estimated £104 billion in power costs since 2010, thanks to the nation’s adoption of the wind power sector.
The UK has seen a dramatic reduction in electricity prices, according to the new study
The study conducted by the University College London has found that the adoption of wind power in the UK has lowered electricity prices by £14 billion and even reduced gas prices too. This positive news has been met with calls by UK politicians to continue the embrace of the sector.
The study notes that without wind power, Europe’s electricity prices would have looked much worse over the past decade, and has stated that continued investment in wind has significantly reduced overall fossil fuel dependence. WindEurope has reported that Europe booked 11.3 GW in new wind turbine orders during the first half of the year.
“The simplistic assessment that the wind industry is a drag on the UK economy is deeply mistaken. It is perfectly possible for the wind industry to be consistently unprofitable without government support yet still deliver a net financial and economic benefit to the country.” – Lead author Colm O’Shea
The global energy transition will benefit the international community in the end
The world has accepted the reality that the conventional old-school form of energy generation needs to end. Fossil fuels have served mankind well, but the impact on the environment has been overlooked and ignored for far too long. Not everything is peachy, though, as Europe’s offshore wind market has struggled with growing dependence on the Chinese supply chain, leading to concerns over market stability and energy security. The UK can take solace in the fact that they have become a regional leader and has saved billions by embracing the wind power sector.
