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Marine energy has the potential to supply up to 20 per cent of the UK’s electricity needs, according to a report published earlier this year by the Carbon Trust. However, the costs of marine energy are currently higher than conventional and other alternative energy sources, reflecting the early stage of marine energy technologies. The Carbon Trust believes that there is potential for costs to reduce considerably in future and for marine energy to become competitive with other generation forms.
The MEA will help industry accelerate cost reduction by supporting:
- Development of new marine energy device concepts that have potential for significantly lower costs than current front-runner technologies
- Research and development into specific component technologies of marine energy devices that are common causes of high costs; and
- Development of low cost installation, operation and maintenance strategies for marine energy devices.
The project will involve device developers and component technology manufacturers working with engineering consultants, contractors and academic research groups. Up to £3.5m of support will be available for the project and activities are expected to start later this financial year. To obtain further information and register for updates, please visit www.carbontrust.co.uk/mea.
Michael Rea, Director of Strategy at the Carbon Trust, said:
“We have previously highlighted the potential of marine energy to achieve both large carbon emissions reductions and economic benefits. Although marine energy is still at an early stage and significant challenges lie ahead, we believe it represents a strong option for the UK to pursue given the country’s large natural energy resources and skills in offshore oil/gas and shipping. The UK currently has a lead in marine energy technology development and we want to enhance this position by focusing efforts on cost reduction which is key to future commercial success.”
John Callaghan, Technology Strategy Manager at the Carbon Trust, said:
“Building on our previous work in the marine sector, the MEA is an exciting new opportunity for organisations in the UK and overseas to address the challenge of reducing the costs of marine energy. We hope that companies will grasp this opportunity and bring new ideas and skills to the marine energy sector, accelerating its development towards commercial viability.”
Mike Hay, Marine Renewables Development Manager at the British Wind Energy Association, said:
"This is a fantastic confidence boost for this emerging industry. The Carbon Trust are backing up the conclusions they made earlier this year, that marine renewable energy has huge potential in the UK, with more work that will look further into how to make this a reality. It's this kind of support that makes this country the global hotspot for wave and tidal stream energy and will ensure it remains that way."
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