Offshore wind

  • Press Releases

    Incidents of price cannibalisation of renewable assets on the rise

    Research from Cornwall Insight Australia shows that the growth of variable renewable energy (VRE) generation significantly impacts their captured price. In fact, in FY18, 98% of the grid-scale solar generation volumes captured prices above $50/MWh. However, this has reduced to 12% in FY21. On top of this, wind and solar...

  • Press Releases

    48.9GW of new renewables projects currently in the scoping stages

    Renewables projects labelled as “scoping” currently represents 50% or 48.9GW of the total viable pipeline capacity*, according to the latest analysis from Cornwall Insight. Of this 48.9GW "scoping" total, 38.6GW is from offshore wind, 5.0GW from battery projects, 3.0GW from onshore wind and 1.5GW from solar PV. This includes some...

  • Media Mentions

    Daily Express | Sturgeon crushed as SNP struggle with economic case for independence

    James Brabben Wholesale Manager at Cornwall Insight was quoted in the Daily Express discussing renewable energy in Scotland. He explained there may be issues on the energy agenda Scottish politicians would like to control, but that might not be possible because policies are made elsewhere. Discussing the Contracts for Difference...

  • Media Mentions

    Engerati | Current offshore wind pipeline falls short of 40GW by 2030 target

    The total offshore wind capacity would reach only 29.7GW by 2030. This takes into account even if all current offshore wind sites with leasing are developed in the coming years. The figures come from our latest report from our ‘Renewables pipeline tracker service’. The report currently tracks 22 sites across...

  • Press Releases

    Current offshore wind pipeline falls short of 40GW by 2030 target

    Latest figures from Cornwall Insight’s ‘Renewables pipeline tracker report’ show that even if all current offshore wind sites with leasing are developed in the coming years, total offshore wind capacity would only reach 29.7GW by 2030. The report currently tracks 22 sites across both floating and fixed foundation technologies, with...

  • Press Releases

    Up to 17GW of renewables eligible for CfD AR4

    Cornwall Insight’s Renewable Pipeline Tracker service has examined the potential capacity that could enter the Contract for Difference (CfD) Allocation Round (AR) 4, with the analysis showing there is currently 17GW* of technologies likely to be eligible to bid. This analysis is based on Cornwall Insight’s unique tiering system in...

  • Press Releases

    Ireland will need to more than double its renewable capacity over the next 25 years to meet 2050 targets

    Findings from Cornwall Insight's 'All-Island forward curve' – a comprehensive market and asset-level power price modelling service – shows that Ireland will need to more than double its renewable capacity over the next 25 years if it is to meet net zero emissions by 2050. The below table shows how...

  • Press Releases

    This winter could see 1.3GW of new wind come online

    Forecasts using Cornwall Insight's 'Renewables pipeline tracker' report shows that a total of 1.3GW of new wind capacity could come online this winter. This is ~5% rise in total capacity, which could reach 25.4GW. The below graph highlights the forecast growth of wind capacity to March 2021. Lucy Dolton, Analyst...

  • Press Releases

    Great Britain could become net exporter of power by 2040s

    Interconnection with EU nations, regardless of trading arrangements post-Brexit, will continue to play a pivotal role in driving wholesale power prices and system flexibility in the future. Modelling of the GB and EU markets by Cornwall Insight shows that increased interconnection through the 2020s and 2030s could provide a route...

  • Press Releases

    New competition for upcoming Capacity Market auctions

    Research from Cornwall Insight’s Capacity Market Forecast highlights that the recent changes in Capacity Market (CM) rules and the technology mix will see greater competition and change in the technology entering* the T-4 auction in March 2021 compared to the previous T-4 auction. Forecasted changes to the technology mix entering...

  • Press Releases

    Increased confidence boosting Offshore Transmission Owners tender process

    Cornwall Insight has examined the recent trends in the Offshore Transmission Owners (OFTO) tender process. The below graph highlights the relationship over time, between the Tender Revenue Stream (TRS), or the fixed revenue stream the OFTO owner receives from the offshore wind farm, and the Transfer Value (TV), which the...

  • Press Releases

    Forecasts show 46 GW increase of renewables technology capacity required by 2030

    Forecasts from Cornwall Insight’s ‘Benchmark power curve’ suggests that up to ~46GW of new build renewable technology  ̶ ~11GW onshore wind, ~10GW solar and ~25GW offshore wind  ̶  may need to be developed by 2030 to keep pace with 2050 net zero targets. This large-scale deployment of very low/zero marginal...

  • Press Releases

    National Grid’s FES hydrogen focus could boost offshore wind deployment

    National Grid’s Future Energy Scenarios (FES)*, published 27 July, showed hydrogen – for heating, transport and clean dispatchable thermal energy playing a pivotal role in three** out of the four of its net zero scenarios; Steady progression (SP), Consumer Transformation (CT), System Transformation (ST) and Leading the Way (LW). Cornwall...

  • Media Mentions

    PV Europe | Renewable generator revenues fall due to COVID-19 lockdown

    Our research highlighting a fall in renewable generator revenues has fallen due to the effects of the COVID-19 lockdown was featured in PV Europe. Captured wholesale prices for solar PV and wind have been the lowest of all observed technologies. In April, average captured prices were £19.6/MWh and £19.5/MWh for...

  • Press Releases

    Renewable generator revenues fall due to COVID-19 lockdown

    Research from Cornwall Insight’s Green Power Forecast reveals there has been a sharp decline in generator revenues. Solar and wind technologies have been particularly impacted by low demand levels due to the COVID-19 lockdown. Solar PV captured prices were, on average, 8.4% and 14.9% below baseload levels in March and...

  • Press Releases

    Renewable pipeline shows evidence of developer appetite

    Research from Cornwall Insight’s Renewables Pipeline Tracker reveals there is ample evidence of developer appetite for future renewables investments in the UK. The research highlights the total capacity of tracked sites in the pipeline stands at 38.7GW across 845 locations. The majority of projects are classed as ‘awaiting construction’, accounting...

  • Press Releases

    Over 10GW of renewables projects could be competing in the next CfD round

    The government announced the reinstatement of 'Pot 1' technologies – which includes onshore wind and solar PV - in the next Contracts for Difference (CfD) Allocation Round 4 (AR4) in 2021. Research from Cornwall Insight's Renewable Pipeline tracker highlights how competitive the AR4 auction could be, especially between 'Pot 1'...

  • Media Mentions

    The Times | Record £30.9m paid to turn off wind farms

    Our research on wind farms being paid a record £30.9mn sum to switch off in January after the failure of a Western Link HVDC cable was sourced in The Times today. Avoiding constraints not only allows more volumes of renewable power to flow on to the grid, but also reduces...

  • Press Releases

    Western Link outage and high wind sees constraint cost hit a record high

    The Western Link HVDC suffered an unplanned outage on 10 January, which caused it to remain offline until 8 February. This coincided with record-high levels of wind generation in GB with generation from transmission connected wind topping 6.3TWh. However, with 2.2GW of HVDC capacity unavailable, significant volumes of wind output...

  • Press Releases

    Highest offshore wind load factors recorded since 2015

    Latest research from Cornwall Insight highlights that as a result of the elevated wind speeds experienced in January onshore wind load factors averaged 42% for the month, and older offshore sites (pre-2016) reached an average of 52%. Newer (post-2016) windfarms fared much better with offshore wind farms load factors averaging...

  • Press Releases

    Lack of headroom in RESS will see projects jostle for limited capacity

    The upcoming Renewable Energy Support Scheme (RESS) has caused excitement across the industry and with between 1000GWh – 3000GWh available, the competition could be high. A key feature of the design for the RESS auctions is the carve-outs or “preference category” for several key areas: community projects, solar projects and...

  • Press Releases

    Cornwall Insight comments on negative wholesale prices recorded for the first time

    On 9 December the UK experienced a negative day-ahead trading price for the first time, with prices for 03:00 AM to 04:00 AM UTC delivery on the hourly day-ahead auction dropping to -£2.84/MWh. This was caused by exceptionally high wind generation in GB throughout the weekend combined with low demand...

  • Media Mentions

    Riviera | First Irish auction probably too early for offshore wind

    James Goldsmith discussed the recent announcement of the first Renewable Electricity Support Scheme (RESS) with Riviera. Explaining that due to the short delivery time for the RESS-1 auction of 2.5 years between the auction and energisation date, offshore wind is unlikely to be able to enter the auction successfully. There...

  • Press Releases

    Analysing wind forecasting in the Irish energy market

    It is expected that Ireland will see greater penetration of wind generation in the next 20 years. According to the Tomorrow Energy Scenarios (TES) installed capacity forecast Ireland will have between 6GW to 8.2GW by 2040. With wind generation growth set to continue, forecasting wind accurately will become increasingly important....

  • Media Mentions

    Renewable Energy Magazine | Ireland will see greater penetration of wind generation in the next 20 years

    Research from Cornwall Insight Ireland was featured in Renewable Energy Magazine. The research shows that wind generation has been under forecast across 2019, with 228 days experiencing higher than forecast wind output. As Ireland heads towards a future where renewable generation – in particular wind power – becomes more prevalent...

  • Press Releases

    Cornwall Insight comments on the Contracts for Difference Allocation Round 3 results

    Responding to the Contracts for Difference (CfD) Allocation Round 3 results, James Brabben, Wholesale Manager at Cornwall Insight, said: “Record low clearing prices in CfD Allocation Round 3 indicate the continued and rapid cost reductions for offshore wind resulting from competitive auctions. “Prices below £40/MWh (in 2011-12 money) are extremely...

  • Press Releases

    Network charging could dampen renewables optimism in Northern Scotland

    Northern Scotland is home to a significant proportion of GB renewables, mainly onshore wind capacity. The region is likely to be a leader in new capacity developments too, with 800MW of Remote Island Wind (RIW) projects looking to develop in the Scottish Isles under the Contract for Difference (CfD) scheme....

  • Media Mentions

    Renewable Energy Magazine | Latest paper from Cornwall Insight discusses the future of wind in Australian versus Great British energy markets

    Our latest insight paper – Wind in the Australian and Great British energy markets – featured in Renewable Energy Magazine. The paper examines whether the outlook for wind in both the Australian and Great British (GB) markets is being shaped by market design and infrastructure. Discussing winds role in both markets...

  • Press Releases

    The future of wind in Australian V Great British energy markets

    Wind is set to become a dominant source of power as governments look to reduce their carbon emissions and although technology and wind resources are similar across the world the risk and values that wind power creates is primarily driven by the characteristics of the markets. The latest insight paper...

  • Media Mentions

    Riviera | Tight timescale means urgent action needed for Irish offshore wind

    Our Head of Ireland Conall Bolger comments on the Irish Government’s Climate Action Plan commitment to 70% renewable energy by 2030 and around 3.5 GW of offshore wind in Riviera. He told Riviera that the Climate Action Plan shows a marked development in the Irish Government’s thinking on climate change,...