Abstract
The ORE Outlook 2040 report summarises the current and future contribution of Offshore Renewable Energy (ORE) to the 2050 Net Zero target, using 2040 as a key milestone on this journey.
Section 1: Climate change, Net Zero, and 2040
The first section of the report sets the scene by summarising current climate change impacts and our progress so far in the energy transition. It shows the ORE deployment pathways needed to reach Net Zero by 2050, using 2040 as a key milestone. The economic and social benefits of a just, sustainable and secure energy transition are set out.
Section 2: Implications
The second section highlights the implications of the ORE deployment levels required by 2040, which are explored through four lenses: (i) planning and consenting, (ii) people, (iii) supply chain and (iv) infrastructure and grid. The analysis shows that the required ORE growth cannot be reached by upscaling current business-as-usual methods alone. Instead, research and innovation are required to transform the technology and practices of the ORE sector, as well as the role of the ORE sector in communities and our understanding of the impact of ORE in the ocean.
This report is a call to action for researchers, industry, policymakers, and the public.