The economic impact could be huge. A recent report outlines the potential of Scotland’s wave and tidal energy sector to generate $10 billion for the economy by 2050, supporting more than 15,000 jobs in coastal communities and the Highlands, and driving investments, according to the University of Edinburgh, which published the findings.
Marine energy also projects a larger impact, with potential deployments of 12GW throughout the U.K. and up to 300GW globally – enough to power millions of homes and buildings annually. This expansion could deliver up to 62,000 jobs for Scottish companies by 2050. The report concludes that the global market for marine energy over the same time frame could be worth as much as $37 billion to Scotland’s economy – more than 10% of its current annual GDP. Ironically, known to have been inhabited 8,500 years ago by Mesolithic and Neolithic tribes, the archipelago has recently emerged as a global leader for the power of the future. An extremely windy place, the amount of electricity generated locally from wind turbines exceeds demand. So, it’s no accident that the European Marine Energy Centre (EMEC) was established in the Orkneys in 2003 to “provide developers with the opportunity to test full-scale grid-connected prototype devices in wave and tidal conditions.”
Cold though they might be, for most people, the Orkney Islands are a global hot spot for renewable energy.
The Centre also offers support about innovative regulations, grid connection, and meteorological monitoring, as well as local research and engineering information and data. This is also an important part of developing the ocean as energy, as unprecedented regulatory issues, environmental effects, and conflicts with other ocean users will have to be resolved as underwater turbine fields scale up into larger size. How these issues are being addressed is the subject of a current exhibition, “Powered by People,” sponsored by EMEC at the Stromness Museum, Orkney. Exhibits map the islands’ remarkable history of pioneering renewable energy with technological innovation.
The potential being demonstrated by the MeyGen project is not limited to such a prime location. In the U.S., nearly 40% of the population lives in coastal communities. If all oceanic marine energy available were tapped, that power would equal almost 60% of America’s annual electricity needs, according to the National Renewable Energy Laboratory (NREL) of the U.S. Department of Energy.
Imagine the possibilities…
Article reprinted with Permission as part of GreenMoney’s ongoing collaboration with Climate and Capital Media.
Article by John Howell for Climate and Capital Media. John is a writer, editor, and broadcaster who advises on communications and media strategy. He was co-founder, editorial director, and chief of thought leadership for 3BL Media, for which he managed all original editorial content, wrote, and edited newsletters, and created the Brands Taking Stands initiative. He has worked as an editor and contributor for Elle, Artforum, and High Times magazines, developed new media for Hearst Magazines, and created communications for Calvin Klein, Polo/Ralph Lauren, and The Body Shop. He lives and works in New Hampshire and Maine.