Independent firm Carbon Trust has released a new report outlining recommendations to support the growth of floating wind market in the UK.

The report has highlighted the key policy and regulatory conditions required for creating a world leading market for floating wind power installations in the UK.

Prepared by Carbon Trust in partnership with the Offshore Renewable Energy Catapult, the report is said to be the first official output of the Floating Wind Joint Industry Project (JIP), which was set up by the Carbon Trust in collaboration with offshore wind developers.

The developers include DONG Energy, EDF, E.ON, Innogy, and Statoil, with support from the Scottish Government.

JIP is a collaborative initiative intended to gather organizations in developing floating wind technology by investigating the challenges and opportunities within the sector.

The new report has recommended four policy areas including licensing and consenting; subsidy and grant support; supply chain development; and grid connection.

According to the study, ongoing support will be critical for the creation of leading floating wind market in the UK.

Carbon Trust offshore wind director Jan Matthiesen said: "The UK has led the world in fixed-bottom offshore wind and is now on the verge of securing a world leading position in floating wind, but continued support is critical to make this a reality.”

The study has recommended a viable support mechanism and clear timelines for decision making through the consenting process.

Other recommendations include increased dialogue between stakeholders in the consenting process; support for research and development (R&D); and support for infrastructure and other capital equipment to ensure creation of competitive supply chain.

The report said: “With potential for up to 90 MW to be installed by 2018, the UK has an opportunity to build on this world leading position and develop supply chain capability to exploit opportunities in international markets."