Offshore to be subsidy free within 15 years?

The results of a study from PWC last week claim offshore wind energy could be subsidy free within 15 years, according to a majority of Government officials who responded to the survey.

The report comes at a particularly key time, as the Government prepares to unfurl the details of the fourth budget on climate change this week. This in itself follows hot on the heels of the findings from the Climate Change Committee that suggested renewables should make up 35 - 40% of the UK's energy needs by 2030.

The machinations of Government policy aside, the PWC survey highlights the potential for UK offshore wind - a potential significantly enhanced last week by Vestas' decision to open a manufacturing facility for offshore turbines in Sheerness.

As many commentators have pointed out, however, now is the time for commitment. Offshore investors need to be assured that the UK is serious about the sector's future development, enabling prices to stabilise and giving manufacturers and financiers the confidence to continue to invest in the long term.

Many proponents of offshore wind will no doubt be watching with intense scrutiny on Tuesday as the budgetary details and commitments are laid bare.