UK sea energy market could be worth more than £76bn by 2050

Britain’s sea and marine energy market could be worth up to £76 billion by 2050 if adequate investment is made in the country, according to a recent analysis.

Research by the Carbon Trust highlights how the UK could utilise around a quarter of the global marine energy market by the mid-century, or 27.5GW of energy, creating over 68,000 jobs and providing a huge boost to the economy.

Already the nation is leading the way in marine energy technology and by 2050 the organisation predicted that the renewable energy source could account for over a fifth of the UK’s energy demand.

However, this is subject to continuous innovation of wave and tidal technologies, a reduction in costs so that marine energy can compete with other low carbon technologies and greater public approval and grid upgrades.

“Marine energy could be a major ‘made in Britain’ success,” claimed Benj Sykes, director of innovations at the Carbon Trust. “By cementing our early mover advantage, the UK could develop a significant export market, generate thousands of jobs and meet our own demand for clean, home-grown electricity.”

This entry was posted in Environmental Consultancy, News and tagged . Bookmark the permalink. Both comments and trackbacks are currently closed.