Published on December 3rd, 2008 | by Ariel Schwartz18
Race for Scotland's $15 Million Marine Energy Prize Begins
Solving our energy crisis requires serious manpower— and serious incentives. That’s why Scotland has launched the $15 million (€10 million) Saltire Prize Challenge to create commercially viable wave or tidal power.
In order to win the award, teams have to prove out their technology in Scottish waters. The winning team is required to supply sea power for a two year period.
Ocean power is a big deal for Scotland, which has been called the “Saudi Arabia of marine energy”. The country holds a quarter of Europe’s wave power potential.
But while Scotland will certainly reap the majority of the benefits from the contest, other countries with lesser ocean power potential will still be able to make use of the technology— once marine power is economically viable, it will become much more attractive to nations around the world.
Photo Credit: NREL