Scotland’s Marine Energy Sector Poised for Significant Growth
Scotland’s tidal stream and wave energy sector could be a major economic driver for the country, according to a new report from the University of Edinburgh. The report, commissioned by Scottish Enterprise and Wave Energy Scotland, projects that the sector could generate over £8 billion in economic benefits and create more than 15,000 jobs by 2050.
The report, titled “Future Economic Potential of Tidal Stream and Wave Energy in Scotland,” outlines a scenario in which Scotland could capture up to 8.8 GW of marine energy capacity, contributing to a total of 12.6 GW across the UK. This could also lead to a potential £28 billion export market for Scotland in the global marine energy sector.
Scotland’s strengths in marine energy, including abundant natural resources, established industry expertise, and ongoing public sector support, are highlighted in the report. Investments in research and development, such as Wave Energy Scotland’s £50 million fund, and facilities like the European Marine Energy Centre play a crucial role in the sector’s growth.
However, the report warns that maintaining Scotland’s leadership position in marine energy requires continued investment in supply chains, innovation support, and grid infrastructure. Further policy measures are needed to sustain the country’s position as a hub for marine energy development.
Scottish Enterprise’s Director of Energy Transition, Suzanne Sosna, emphasized the need for action to capitalize on the economic benefits of marine energy. Wave Energy Scotland’s Managing Director, Tim Hurst, also highlighted the economic and social advantages of Scotland’s investment in marine energy.
Scotland’s Acting Energy Secretary, Gillian Martin, pointed out that Scotland’s strong position in marine energy, coupled with its natural resources and policy approach, positions the country well to harness the global market for marine energy.
The Scottish Government sees marine energy as a key driver in transitioning to a net-zero economy, with opportunities for quality jobs and growth across coastal communities. Alistair Carmichael, MP for Orkney and Shetland, stressed the importance of government support to maintain the UK’s advantage in the marine energy sector.
In a recent parliamentary debate, MPs called for increased government support to leverage the UK’s tidal and wave energy potential. The discussion highlighted the need for funding and initiatives to solidify the UK’s position as a global leader in marine energy technology.