The Potential Economic Value
In collaboration with Energy Systems Catapult, and supported by Wave Energy Scotland, The University of Edinburgh’s Policy and Innovation Group has released a new study entitled: Wave and Tidal Energy: The Potential Economic Value.
This study presents the potential long-term economic benefits in terms of GVA of the wave and tidal sectors out to 2050. An ambitious scenario is explored in which a step change in innovation and technology development of the wave and tidal industries enables these technologies to reach cost parity with other forms of generation by 2030. Future deployment figures were modelled by the Energy Systems Catapult ESME model and the International Energy Agency TIMES Regional model.
Based on the assumptions outlined in this study, the UK could see over 1300TWh of clean, secure, sustainable electricity produced and over £100bn net GVA (2017 real) created by the marine energy sector from 2030 to 2050.
The document is available to download here and at industry events throughout 2019, starting with All Energy, where the document will be available at the Wave Energy Scotland stand.