Connect with us

Hi, what are you looking for?


Clean Power

Scottish Wave And Tidal Energy Sector Worth £217 Million

New figures from a Scottish Renewables report show that the Scottish wave and tidal energy sector has invested more than £217 million so far, with £31.8 million spent over the past 12 months alone. And though the sector is young, compared to its older siblings wind and solar, the industry is expected to reach £50 billion by 2050.

For Scotland, widely recognized as the world leader thanks in no small part to their favorable environmental conditions, these figures are doubly good news, as almost two-thirds (62%) of the current supply chain is Scottish.

“Wave and tidal energy is still very much the renewables new kid on the block, but the opportunities it presents are enormous, particularly for Scotland,” said Lindsay Leask, Senior Policy Manager for offshore renewables at Scottish Renewables. “These investment figures, revealed for the first time by our Marine Milestones report, show the significant economic benefits this young sector is bringing. Crucially, those benefits are staying local, benefiting communities and families who are looking to renewables for a sustainable future, both economically and environmentally.”

Trade body Scottish Renewables released its new report, Marine Milestones, Tuesday at the organization’s Marine Conference in Inverness. The report surveyed 17 organizations working in the marine energy industry, which provided several key updates:

  • Aquamarine Power’s Oyster 800 device has now clocked up three full winters at sea, braving waves of more than 60ft: a world first.
  • Pelamis’ two P2 machines have cumulatively delivered wave power to the grid for 10,000 hours – that’s 416 days, or 59 full weeks.
  • The MeyGen project – the world’s first commercial scale tidal array – became the first large-scale tidal project of its type in the world to successfully reach a funding agreement, and achieved onshore and offshore planning consent in 2014.

However, despite Scotland’s leadership in the wave and tidal energy sector, the industry is taking longer than hoped to develop. A new Bloomberg New Energy Finance forecast from August revised expectations down to 148 MW for tidal stream and 21 MW for wave power installations by the end of this decade.

According to Bloomberg:

The emergence of marine renewable energy technologies is taking longer than hoped, due to project setbacks, fatigue among venture capital investors, and the sheer difficulty of deploying devices in the harsh marine environment.

So while Scotland can look forward with high hopes to their own wave and tidal energy future, the numbers are still relatively low, and are definitely not representative globally.

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Former Tesla Battery Expert Leading Lyten Into New Lithium-Sulfur Battery Era — Podcast:

I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it! We just don't like paywalls, and so we've decided to ditch ours. Unfortunately, the media business is still a tough, cut-throat business with tiny margins. It's a never-ending Olympic challenge to stay above water or even perhaps — gasp — grow. So ...
If you like what we do and want to support us, please chip in a bit monthly via PayPal or Patreon to help our team do what we do! Thank you!
Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (, and can be found writing articles for a variety of other sites. Check me out at for more.


You May Also Like


In this time of rapid change, that which was new, different, not normal, is now the new normal. Can we drop the title “green”...

Clean Power

US banks on new PacWave South test site to nail down a piece of the global wave energy industry pie.

Clean Power

Tsunamis, hurricanes, and maritime weather are monitored using sensors and other devices on platforms in the ocean to help keep coastal communities safe —...

Clean Power

New Educational Video Explains How Marine Energy Is Made, Why It Is Important, and What Work Still Needs To Be Done

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.