POWER: UK On Track to Miss 2030 Renewable Goals by 32GW

The UK is on track to fall 32GW short of its 2030 clean energy target as challenges such as market uncertainty and operational barriers continue to hinder progress, according to a report by Cornwall Insight, cited by FT.

• The UK government has set key clean energy targets for 2030, aiming for 43-50GW of offshore wind, 27-29GW of onshore wind, and 45-47GW of solar power.
• However, Cornwall Insight forecasts the UK will fall short, reaching only 37GW of offshore wind, 17GW of onshore wind, and 29GW of solar by 2030.
• But the Department for Energy Security and Net Zero disagrees with the forecast, insisting the clean power target by 2030 is achievable.
• And the government has acted by lifting onshore wind restrictions, awarding solar farm permissions, and increasing renewable subsidies.
• But Kate Mulvany, principal consultant at Cornwall Insight, said even with such measures “it’s fair to say we are not there yet… “as that isn’t the same as getting wholesale planning reform agreed, and given the contentiousness of wholesale planning reform, there is a degree of caution around how rapidly that will ultimately be delivered.”
• Investors are also cautious about potential changes to the electricity market, such as splitting into different pricing areas.
• Cornwall Insight emphasises the importance of investment in infrastructure and clarity on market reforms for success.