Integrating Macroeconomics and Offshore Wind Energy: Assessing Economic Impacts and Policy Interventions

Project Description:

This PhD scholarship is offered by the EPSRC CDT in Offshore Wind Energy Sustainability and Resilience; a partnership between the Universities of Durham, Hull, Loughborough and Sheffield. The project is sponsored by industry partner, RenewableUK. The successful applicant will undertake six-month of training with the rest of the CDT cohort at the University of Hull before continuing their PhD research at Loughborough University.

The UK has positioned itself as a global leader in renewable energy, with offshore wind power playing a crucial role in its transition to a low-carbon economy. Offshore wind has rapidly become central to the UK’s efforts to meet its 2050 net-zero target, leveraging the nation’s abundant wind resources and extensive coastline. With significant installed capacity and ambitious expansion plans, the UK is a global frontrunner in offshore wind, making a substantial contribution to its clean energy mix while strengthening energy security.

This growth, fuelled by government support, technological advancements, and falling costs, is reshaping the UK’s energy landscape. However, the wider macroeconomic implications of this transformation remain underexplored. Investments in offshore wind and grid infrastructure are not only altering the electricity market but are also having broader economic effects. A deeper understanding of the regional and sectoral impacts of these investments is essential for developing policies that maximise benefits and address potential challenges.

This research aims to explore the economic impact of renewable energy, particularly offshore wind, on income growth, prices, welfare, and employment in the UK. A key focus will be on the role of production credit and grid expansion in shaping these outcomes. To achieve this, we will develop a General Equilibrium (GE) model that simulates the UK’s electricity production network, incorporating both renewable energy from offshore wind farms and fossil fuel generation. This model will enable us to assess how investments in renewable energy influence the broader economy.

Training and development

You will benefit from a taught programme, giving you a broad understanding of the breadth and depth of current and emerging offshore wind sector needs. This begins with an intensive six-month programme at the University of Hull for the new student intake, drawing on the expertise and facilities of all four academic partners. It is supplemented by Continuing Professional Development (CPD), which is embedded throughout your 4-year research scholarship.

The student will develop a wide range of numerical modelling and programming skills that will provide excellent career opportunities in both academia and industry.

Entry requirements

If you have received a First-class Honours degree, or a 2:1 Honours degree and a Masters, or a Distinction at Masters level with any undergraduate degree (or the international equivalents) in economics, energy economics, or related fields, we would like to hear from you. Strong analytical, quantitative and interdisciplinary collaboration skills are essential.

If your first language is not English, or you require Tier 4 student visa to study, you will be required to provide evidence of your English language proficiency level that meets the requirements of the Aura CDT’s academic partners. This course requires academic IELTS 7.0 overall, with no less than 6.0 in each skill.

The deadline for applications is Wednesday 4 December 2024.

If you have any queries about this project, please contact Dr Ali Moghaddasi Kelishomi, a.moghaddasi@lboro.ac.uk  

You may also address queries about the CDT to auracdt@hull.ac.uk.

Watch our short video to hear from Aura CDT students, academics and industry partners:

Funding Notes

The Offshore Wind CDT is funded by EPSRC, allowing us to provide scholarships for Home students that cover fees plus a stipend set at the UKRI nationally agreed rates, circa £19,795 per annum at 2025/26 rates (subject to progress). In addition, a number of scholarships will be made available for International students.

Eligibility

Research Council funding for postgraduate research has residence requirements. Our CDT scholarships are available to Home (UK) Students. To be considered a Home student, and therefore eligible for a full award, a student must have no restrictions on how long they can stay in the UK and have been ordinarily resident in the UK for at least 3 years prior to the start of the scholarship (with some further constraint regarding residence for education). For full eligibility information, please refer to the EPSRC website.

We also allocate a number of scholarships for International Students per cohort.

How to apply

Please note, you may only apply for ONE project offered through the EPSRC CDT in Offshore Wind Energy Sustainability and Resilience.

Please ensure that you familiarise yourself with the Aura CDT website before you apply to give you a good understanding of what a CDT is, our CDT’s research focus and the training and continuing professional development programme that runs alongside the CDT. The Frequently asked questions page and Candidate resources page are essential reading prior to applying.

Applications are made via the Loughborough University admissions system. If you have not applied to Loughborough University before, you will need to set up an account to enable you to track the progress of your application and upload supporting documents.

Follow this link to apply for CDT projects at Loughborough University: https://www.lboro.ac.uk/study/postgraduate/apply/research-applications/ 

Under programme name, select ‘Business School Offshore Wind Energy Sustainability and Resilience’. Both Full-time and Part-time modes of study are available. Please quote the advertised reference number in your application: this is Aura25ARB2 for “Integrating Macroeconomics and Offshore Wind Energy: Assessing Economic Impacts and Policy Interventions (RUK)”.

With your application, you need to upload copies of the following supporting evidence:

• Complete transcripts (and final degree certificate(s) where possible). If your qualification documents are not in English, you will need to supply copies of your original language documents as well as their official translation into English.
• Your Curriculum Vitae (CV).
• A completed Supplementary Application Form (upload as part of your supporting evidence documentation).

Uploading the form 

When you have completed the form, please save it as a pdf format and labelled as follows:

Last name_first name PhD application form

Upload the form as part of your application documents through the Loughborough University student application portal upload as part of your supporting evidence documentation. Please do not send your form directly to the Offshore Wind CDT.

Guaranteed interview scheme 

The CDT is committed to generating a diverse and inclusive training programme and is looking to attract applicants from all backgrounds. We offer a Guaranteed Interview Scheme for home fee status candidates who identify as Black or Black mixed or Asian or Asian mixed if they meet the programme entry requirements. This positive action is to support recruitment of these under-represented ethnic groups to our programme and is an opt in process. Find out more.

Interviews 

Interviews will be held during mid-January 2025.