Starmer pledges enough new offshore wind to power 20m homes in next 5 years (Grauniad)
That horrible and opaque measure of wind capacity, how many homes it powers. In objective measure, the quantity to be built is 20-30GW. Quite a range of uncertainty that. And that will be maximum nominal capacity, not what it produces on average taking into account the variation in wind and transmission constraints. So 20-30GW is actually something like 7-10GWe on average (ignoring transmission constraints), assuming something like 35% capacity factor on average for offshore wind. (I plucked that from memory, might not be quite right.) That compares with about 30GWe being the average demand for electricity at present. And domestic demand is about 40%, 12 GWe, so that is roughly consistent with something like 20m homes worth I suppose, given something like 28m homes.
This makes clear that Ed Milliband's "mission" to "decarbonise the grid by 2030", for which he has appointed Chris Stark recently head of the CCC as his "mission lead" will not really be achieved except in some greenwashspeak. But we knew that anyway. Adding this quantity of wind power to the grid is only a step in that direction. Currently 41% of UK electricity is renewable, which probably includes some dubious ones like Drax. This in principle can add about 30%, if we ignore issues of increasing wind constraints when it's a windy day. And there remains the very difficult issue of what do you do at less windy, less sunny, moments and weeks and months. And if there is any large movement towards heat pumps and electric cars, then electricity demand will begin to grow, after a couple of decades or so of slow demand reduction due to efficiency.
But what is significant is that this will be developed by Great British Energy. The recent seabed auction didn't get any bids, because the government set the minimum terms in such a way that no one was willing to actually pay money for it. This includes issues such as construction price inflation - wind turbines have gone up in construction cost for the same reasons all construction costs have increased - and what the price of electricity might be. But when it is a nationalised industry, you can just tell them to do it, and they just do it, provided you make available to them the requisite capital.
The Chinese actually have quite a good approach to this kind of thing, at least in the toll roads sector. If you give someone a concession to build a toll road, they will charge you a large premium for the risk of how much demand it might get. So the state, mainly through provinces, builds toll roads and opens them, and then when you can see what the demand for them, then it concessions them. And so it gets its capital back, which it can then recycle to build the next toll road. It helps that road-building is a fairly standard task, so having it built in the public sector doesn't tend to result in massive inefficiencies. Building wind turbines is similar.