The focus on the energy transition towards a decarbonized world is presently the primary long-term trend in the energy industry. This trend is not only altering the technology behind power generation but is also reshaping government policies, social relationships, and people’s minds. When dealing with large-scale changes that impact entire societies, it is crucial to maintain a balance between the resilience of the system and public acceptance on one side and the scope, extent, and speed of the transition on the other. Many promising ideas fail due to very enthusiastic but too naïve implementation. A compelling illustration of this thought is the situation with offshore wind generation in the UK. According to British policymakers, offshore wind production should rise from the current 14GW to 50GW by 2050. This is envisioned to become the primary and only currently expanding source of electricity production, projected to constitute about 50% of the UK’s expected consumption. Nevertheless, the industry is already encountering significant challenges. New offshore wind projects struggle to attract investors, prompting the government to consider raising subsidies or demanding more cash from taxpayers (essentially, the same thing). Some estimations suggest that, assuming nearly a doubling of electricity demand by 2050, the required… continue reading
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