A new study for the Offshore Renewable Energy Catapult, located in Glasgow, has estimated the economic impact on the UK of offshore renewable energy developments to 2020.
The report (published March 13 2014) was carried out for the Offshore Renewable Energy Catapult by the Fraser of Allander Institute and BVG associates – an independent consultancy with considerable experience in renewable energy.
It found that in the "accelerated growth" scenario (associated with 15GW of offshore wind capacity), 150,000 jobs would be supported throughout the UK economy in 2020, with direct employment in offshore energy sector of 34,000. In the alternative "gradual growth" scenario (total development of 8GW of offshore wind), over 50,000 jobs, including 11,000 direct jobs.
The report examined scenarios in which 8GW and 15GW of offshore wind, and 100MW of marine energy, is developed by 2020. Using expenditure estimates provided by BVG associates, the FAI team undertook extensive economic modelling work to explore the impact of those expenditures on the UK economy, and different sectors, as a whole.