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The UK economy could gain £6.7 billion per year and 150,000 jobs by 2020 from the development of offshore renewable energy resources, according to a report published yesterday by the Offshore Renewable Energy Catapult.
The Catapult, an organisation set up by the Technology Strategy Board, said there were opportunities for the UK to develop “world-leading capability” in the development, manufacture and deployment of offshore renewables technologies.
Andrew Jamieson, ORE Catapult, chief executive, said: “The UK is in a strong position today, leading the world in both deployment and ambition for offshore renewable energy. We have the industrial base, research capability, regulatory framework and supply chain to continue to prosper and lead.
“This report clearly demonstrates the significant potential economic value of offshore renewables and why it is worth the investment now to develop and grow sustainable industries delivering energy from our offshore natural resources.”
According to the Catapult, the biggest long-term opportunity for the UK is in the accumulation of the “know-how” in the effective operation and maintenance of offshore renewable technology, which can provide an exportable service industry similar to that achieved by the oil and gas industry over recent decades.
The report also recognises that the development of wave and tidal technology will remain in their infancy and will be relatively minor contributors to a sustainable UK energy mix this until 2020. However, it expects them to become increasingly significant over the following decade.
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