Wind Power Prices Must Rise to Meet UK's Clean Energy Goals

The UK’s government must offer higher prices for offshore wind power generation or miss the capacity targets it has set itself, climate think tank Ember has warned. The UK incentivizes new wind and solar capacity by guaranteeing minimum long-term prices for the energy produced from such installations via contracts for difference. Yet the prices that the government has been ready to offer recently have fallen short of developers’ funding needs, reducing interest in new projects. It was because of this discrepancy between developers’…