Wind Power Has Saved the UK Over £100 Billion, UCL Study Finds

A new University College London study argues that Britain’s investment in wind power has not only reduced emissions but delivered major financial gains. The analysis, published as a preprint in UCL Open: Environment, estimates that between 2010 and 2023, wind generation provided a net benefit of £104.3 billion to UK consumers.

Researchers Colm O’Shea, Piers Horne, and Mark Maslin modelled how the UK’s energy market would have evolved if the country had invested in fossil gas instead of wind. Their results suggest that wind power lowered both electricity and natural gas prices, saving households and businesses billions.

The study attributes around £14 billion in savings to reduced electricity prices and £133 billion to lower gas prices, offset by about £43 billion in subsidies for wind projects. The authors conclude that the energy transition “is not a costly environmental subsidy, it is a compelling financial investment.”

They also highlight a fairness issue: while electricity users fund most renewable subsidies, the broader benefits — such as cheaper gas — extend across the entire economy. The paper argues that wind should be treated as a “public good” that strengthens national energy security and reduces exposure to volatile fossil fuel markets.

Where Wind Fits in the UK Energy Mix

In 2024, renewables supplied just over half of the UK’s electricity — 51.5% — with wind power contributing a record 30%. Fossil fuels still made up 34% of generation, led by natural gas at nearly 30%, while nuclear accounted for 14.5%. The government aims to fully decarbonise the power system by 2035, positioning offshore wind as the backbone of that shift. Achieving those targets will depend on expanding grid capacity, investing in storage, and keeping project costs competitive amid supply chain pressures.