The Future of Tidal and Wave Energy in Scotland
According to a recent study conducted by the University of Edinburgh’s Policy & Innovation Group, tidal and wave energy sources have the potential to add upwards of £8 billion to Scotland’s economy by the year 2050.
Unlocking Renewable Energy Potential
The authors estimate that Scottish waters could harness nearly 9 GW from tidal streams and wave energy by 2050. This significant increase could play an essential role in achieving Net Zero targets as well as enhancing Scotland’s overall energy security.
Economic Impact and Job Creation
A diverse range of projects throughout the UK are forecasted to contribute more than £8 billion in economic benefits specifically for Scotland. Furthermore, this figure may rise considerably when factoring in export opportunities.
The anticipated growth includes the creation of over 15,000 new jobs by 2050. These positions will largely be located within coastal communities, aligning with Just Transition initiatives aimed at fostering equitable job opportunities within emerging industries.
Pathway to Success: Innovation and Support
To fully capitalize on these renewable resources, continued innovation is imperative alongside robust market support and greater competitiveness within supply chains. Achieving this will entail substantial upgrades in capabilities necessary for establishing a streamlined, highly efficient supply chain that can meet modern demands.
Citations and Further Reading
This report became part of a UK Parliament discussion regarding marine renewable energies held in January. You can view the discussion here, or access the full report here.
