Marine energy could be jostling with nuclear and onshore wind on prices in just over a decade, new analysis suggests. The Carbon Trust, an independent government think-tank, claims that the UK’s best marine sites could generate electricity at competitive prices compared with the two more established energy sources.
A programme by the Carbon Trust, the Marine Energy Accelerator, found that costs for wave and tidal energy farms are likely to kick off around 30-40pence per kilowatt-hour. If research and development is properly supported, the prices could come down to be cost-competitive by 2025.
Benj Sykes, Director of Innovations at Carbon Trust said:”Marine energy is one of the UK’s most exciting green growth sectors and one where we have a real lead. Wave and tidal stream could provide a fifth of our electricity needs and be a major ‘made in Britain’ success. The key players must now pull together to tackle the next set of challenges and innovate to drive down costs.”
Wave and tidal stream could generate more electricity than 12 large coal-fired power stations, estimates The Carbon Trust.