New research has shed light on the energy savings impact of windfarms. If you are investment planning in Cheshire green tech, wind power has cut over £104 billion from UK energy costs since 2019.
These are the findings of a study by University College London. It concluded that, from 2010 to 2023, windfarm energy resulted in lower electricity bills, and savings of approximately £14.2 billion. The reduction in gas costs attributed to wind power was estimated to be around £133.3 billion. Factoring in the £43.2 billion of green subsidies paid by UK consumers, the net result amounted to an overall reduction of £104.3 billion in energy bills.
Renewable energy generation in Europe has resulted in less demand for gas power stations, whilst the Ukraine invasion drove up prices after 2022. Advocates of wind power claim the data supports renewables as a rewarding investment. Ana Musat of Renewables UK said that the wind power industry employs around 55,000 people, a figure predicted to climb to 110,000 by 2030. Each gigawatt of offshore wind generates circa £2 billion to £3 billion in private investment in the UK, she added.
Over the last decade, take-up of non-fossil fuels has increased faster than anticipated. In 2015, BP predicted that renewables would account for 38% of global power generation by 2035. Now, in 2025, the ‘green’ market share is already 41%. Solar and wind generation today is four times what the International Energy Agency forecast 10 years ago.
