The Future of UK’s Marine Energy Sector: A Parliamentary Debate

Last week, a parliamentary debate brought the future of the UK’s marine energy sector into focus, as Members of Parliament (MPs) called for enhanced government support to harness the country’s tidal and wave energy potential. The discussion underscored the need for funding and initiatives to solidify the UK’s position as a global leader in marine energy technology.

According to the UK Marine Energy Council (MEC), during the debate, 17 MPs emphasized key actions to propel the sector forward, including the allocation of £30 million for a tidal stream ringfence in AR7, the designation of £5 million for wave energy projects within AR7, the dedication of 3% of Great Britain energy’s budget to marine energy initiatives, and the establishment of a government-led Marine Energy Taskforce.

These measures of the report named “Future economic potential of Tidal Stream & Wave Energy in Scotland”, on which Policy and Innovation Group worked together with UK MEC, would ensure high levels of UK content in projects deployed domestically and internationally, bolstering economic growth and energy innovation.

Alistair Carmichael MP, expressed optimism for the sector’s future. He highlighted the findings of an upcoming report, saying: “I hope this report will significantly progress the debate [on marine energy] as we head towards AR7.”

“Marine energy could add £37 billion to Scotland’s economy by 2050, £28 billion of that, most significantly, from exports,” Carmichael added.

The report, commissioned by Scottish Enterprise and Wave Energy Scotland is expected in early February, Policy and Innovation Group noted.

The UK Marine Energy Council reiterated its vision for the country to lead the global marine energy sector, saying: “Our vision is for the UK to be the international leader in developing, deploying and exporting marine energy technology.”

In October 2024, the Marine Energy All-Party Parliamentary Group (APPG) was relaunched under the new UK Parliament, with Orkney and Shetland MP Alistair Carmichael as chair.

According to research by Offshore Renewable Energy (ORE) Catapult and Imperial College London (ICL), tidal energy has the potential to provide 11.5 GW to the UK energy system, 11% of the UK’s electricity demand, and tidal stream projects could contribute up to £17 billion to the UK economy by 2050.