Tidal and wave energy could contribute more than £8 billion to the Scottish economy by 2050 according to a new report from the University of Edinburgh’s Policy & Innovation Group.
Scotland is a global leader in the development and deployment of tidal stream and wave energy devices, said a news release about the document. Quite apart from the existence of the resource, the country is also home to several leading tidal stream and wave energy device developers and possesses the underpinnings of a suitably equipped supply chain to support them.
Nearly 9 GW of tidal stream and wave energy could be unlocked in Scottish waters by 2050, say the authors, contributing to Net Zero and energy security in Scotland and the UK.
Projects across the UK could generate over £8bn in economic benefit to the Scottish economy by 2050, with the potential for this value to increase via exports.
These deployments could contribute over 15,000 jobs in 2050, with high-value jobs in coastal communities helping to address Just Transition ambitions.
To realize this promise will require ongoing innovation, market support and increased supply chain competitiveness. In respect of the latter, it will mean “delivering a step-change in the capabilities required to deliver a modernised and highly competitive supply chain”.
The report was cited in a UK Parliament discussion on marine renewables in January, which is available to watch here. Or view the report itself.
