On Tuesday, Prime Minister Boris Johnson pledged that they will generate enough offshore wind energy to power every home in the UK within a decade. It set a new target of 1 Gigawatt of offshore wind energy by 2035.
To put that into perspective, that is more than the entire world produces in offshore wind.
To help reach this goal, the UK government just committed $207 million dollars to upgrade its ports and infrastructure. This will help in future expansions of its offshore wind farms that are necessary to reach these amazing goals.
Building up its wind energy is a big step in the UK’s economic recovery plans after COVID-19.
Investors Love Offshore Wind Energy
While 2020 has been a turbulent year for investors, it hasn’t stopped investments into offshore wind. In the first half of 2020, $35 billion dollars has already been invested.
That’s more than in the same time period in 2019!
This completely makes up for the lack of investments into other renewable energies like solar, onshore wind, and biomass.
Many companies are starting to take offshore wind seriously. Just this year, BP announced that it will invest billions into renewable energy as it begins transitioning away from oil and coal.
The Key to Economic Recovery
COVID-19 has devastated the global economy and nations are still coming up with plans to get out of the slump. However, most have come to the realization that going green will create jobs and help give the economy a boost.
Large green projects require thousands of workers and that’s exactly what we need.
The potential for offshore wind is huge. Last year, a report suggested that it could power every single home and business on the planet if it was expanded.
And most importantly, it will help the world reduce greenhouse gas emissions from fossil fuel energy. A greener future awaits.