Scotland’s seas could generate £8 billion, if wave and tidal power is properly harnessed says a report by scientists.
Highlands and Islands Enterprise (HIE) subsidiary Wave Energy Scotland (WES) and Scottish Enterprise, comissioned the report by the University of Edinburgh.
The study estimates that wave and tidal energy could contribute up to £8bn to Scotland’s economy by 2050, creating more than 15,000 jobs, particularly in coastal communities across the Highlands and Islands.
HIE chief executive Stuart Black said:“We’ve known for some time that the economic potential of marine energy for our economy is huge, and it’s great to have this quantified in a meaningful way by this University of Edinburgh report.
“Scotland, and particularly the Highlands and Islands region, has been at the forefront of renewable energy development over the past 20 years or more.
“We will continue to work hard and with our partners in the public sector and industry to make sure we stay ahead of the game and secure these economic gains for our region and our country.”
The report suggests a Scottish market potential of up to 8.8GW of marine energy by 2050, with UK-wide deployments reaching 12.6GW and a global market of up to 300GW.
If realised, this could create 62,000 jobs, with 15,600 in the UK and a further 46,000 through global exports.
The worldwide market for marine energy could be worth up to £28bn.
