The United Kingdom has granted 22 million pounds ($35.04 million) to six marine-energy companies in an effort to accelerate the deployment of full scale prototypes.
The Carbon Trust made the announcement Tuesday, stating that marine energy will be ready for mass scale deployment by 2020.
The Marine Renewable Proving Fund (MRPF) uses new funding from UK's Department of Energy and Climate Change (DECC).
Atlantis Resources, Aquamarine Power, Hammerfest Strom UK, Marine
Current Turbines, Pelamis Wave Power and Voith Hydro were chosen to
split the funds.
Marine energy is currently ten years behind offshore wind energy in its development, but according to the Carbon Trust costs can be dramatically reduced over the next ten years, which could see up to a thousand devices operating in the water by 2020.
Tom Delay, chief executive of the Carbon Trust, said:
"The UK must urgently diversify, decarbonise and secure its energy sources and marine energy could over time provide up to 20% of the UK’s electricity. Generating electricity from the UK’s powerful wave and tidal resource not only plays a crucial role in meeting our climate change targets but also presents a significant economic opportunity for the UK. Wave alone presents a £2 billion economic opportunity for the UK.”
Delay continued: "The demonstration of full scale devices at sea is central to realising the full potential of marine energy and getting the first commercial projects in the water is critical to ‘de-risk’ the technology and attract the necessary private sector investment. This is the start of major new industry that will generate jobs and wealth across the UK.”
Carbon Trust analysis shows that 25% of the world’s wave and tidal technologies are being developed in the UK. Marine energy is an emerging industry with massive growth potential and each successful technology is competing for a stake in what will be a major growth industry.
Carbon Trust is a not-for-profit company with the mission to accelerate the move to a low carbon economy.
Greenpeace Executive Director, John Sauven said: “Marine renewable technologies are cutting edge and the UK is in pole position to lead the innovation and commercialisation of this secure energy source, which will keep our economy competitive. The Carbon Trust grants will give a much needed boost and to build on them we need all political parties to show their full commitment to achieving Britain’s renewable energy targets.”
