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|Wave & Tidal Energy|
The UK is currently the undisputed global leader in marine energy. By building on the UK’s established marine engineering heritage, marine energy could lead to significant economic growth for the UK.
The Department of Energy and Climate Change (DECC) estimates that wave & tidal stream energy combined has the potential to deliver around 20 per cent of the UK’s current electricity needs which equates to an installed capacity of around 30 – 50GW. In addition, tidal lagoons could deliver up to 8 per cent of our energy needs according to a recent report by The Centre for Economics and Business Research.
In their Marine Green Growth paper The Carbon Trust estimated that UK companies could capture around 22% of the global market for marine energy which could be worth around £76 billion between now and 2050.
Our Working for a Greener Britain and Northern Ireland report estimates that in the next decade wave and tidal stream energy could provide jobs for more than 20,000 people, contributing towards continued economic prosperity as we export our skills, services and products.