The report, which was commissioned by Scottish Enterprise and Wave Energy Scotland, indicates that nearly 9GW of tidal stream and wave energy could be deployed in Scottish waters by 2050.
Coupled with other deployments totalling around 3.6GW elsewhere in the UK, the presence of marine energy developers in Scotland indicates these projects could generate over £8 billion ($9.9 billion) in economic benefit to the Scottish economy by 2050, the report finds.
It adds that over the same period, the global export market for marine energy with potential deployments up to 300GW could be worth as much as £28 billion to Scotland and that the sector could create up to 62,000 jobs in Scottish companies, including more than 15,000 jobs in the UK and a further 46,000 worldwide.
Suzanne Sosna, Director of Energy Transition, Scottish Enterprise, commented in a statement: “These findings really drive home the need to take action now if we want to reap the potentially sizeable economic benefits of remaining a world leader in marine energy.”
To ensure that the projects are delivered by Scottish companies, the report recommends support for device developers in the form of long-term market support, the need for sustained technology innovation funding and the establishment of a competitive domestic supply chain.
To develop the essential infrastructure needs to include skills development, cross sector collaboration and prioritising infrastructure upgrades such as in ports and the national grid.
The delivery of innovation support in Scotland also is needed, utilising the extensive experience of its well-established enterprise and innovation support organisations to deliver on sustained device development and the modernisation of domestic supply chain capabilities.
If successful, Scotland stands poised to become the nation synonymous with leading the successful development and deployment of innovative tidal stream and wave energy devices and farms, the report concludes.
