A new study by researchers at University College London (UCL) has shown that UK investment in wind energy has generated a net financial benefit of over £100 billion for energy consumers between 2010 and 2023. The study, published in UCL Open Environment, challenges misconceptions about the cost of the green energy transition and highlights the potential for wind energy to contribute to sustainability, affordability, and energy security.
The study found that wind-generated energy lowered electricity bills by £14.2 billion and reduced the cost of natural gas by £133.3 billion over the 13-year period. When taking into account the £43.2 billion in green subsidies paid by consumers through their bills, the net result was a reduction of £104.3 billion in UK energy bills. These findings are particularly relevant as delegates prepare for COP30 in Brazil, highlighting the UK’s progress in transitioning to green energy.
Lead author Colm O’Shea from UCL Geography emphasized that the study demonstrates how wind generation has consistently delivered substantial financial benefits to the UK. He added that this net benefit of £104 billion is larger than the additional £90 billion the UK has spent on gas since 2021 due to rising prices related to the war in Ukraine.
The researchers used a long-term Merit Order Effect (MOE) model to assess the financial impact of wind power on the UK energy market. This approach considers the potential cost of constructing new gas capacity, providing a fuller picture and a more realistic reflection of how the energy market would respond over time. In contrast, previous analyses that only considered short-term MOE calculated a net benefit of just £0.9 billion.
According to the study, the expansion of wind capacity in the UK from five terra-watt hours (TWh) to 80 TWh between 2010 and 2023 played a crucial role in pushing gas generators out of the market and lowering electricity prices for consumers. However, the lower market prices also mean that wind generators earn less per unit of energy, limiting their own profitability. The researchers argue that this should not be seen as a measure of the financial value of the wind energy sector.
Co-author Professor Mark Maslin from UCL Geography highlighted the fairness of the current funding model, where electricity users pay 100% of green subsidies but receive only 18% of the financial benefit. In contrast, natural gas users, who do not contribute to wind investment, have enjoyed 82% of the benefit since 2010.
The study concludes that wind power should be viewed as a public good, and investment in it is not only environmentally sound but also economically strategic. UCL, consistently ranked among the top 10 universities in the world, is proud to have played a role in this significant study that highlights the benefits of investing in renewable energy.
For more information, additional multimedia, or to speak to the researchers involved, please contact Sophie Hunter from UCL Media Relations or Michael Lucibella from UCL Media Relations. The study will be published in UCL Open Environment on Tuesday 28 October 2025 and is under a strict embargo until this time.