Europe needs more homegrown renewable energy if it is to break its dependence on imported fossil fuels. But a significant proportion of Europeans in key offshore wind markets believe their countries are already domestically self-sufficient – a misperception that risks reducing the sense of urgency around the transition to a secure, independent energy system based on domestic renewables like offshore wind.
In this paper, we challenge these and other popular misperceptions, showing that renewables, with offshore wind as a leading component, can cut total European electricity system costs by 30 % by 2040.
This paper covers:
Common misperceptions about energy independence, the cost and reliability of offshore wind, and the impact of gas on today’s energy prices
Europe’s need for the affordable, secure, clean energy that can be provided by wind and solar
The system cost savings to be gained by a shift to renewables, including grid upgrades and integration – and a robust methodology
The complementarity of solar, onshore wind, and offshore wind in meeting Europe’s energy needs
Next steps for governments and developers in delivering on offshore wind’s potential.
