Scotland stands on the brink of a marine energy boom that could inject £8 billion into its economy and create 15,000 jobs. A new analysis by the University of Edinburgh reveals that with the right investment and strategic focus, Scotland can cement its position as a global leader in tidal and wave energy, unlocking billions more in export opportunities.
The University of Edinburgh’s School of Engineering report showcases Scotland’s competitive edge in marine energy, driven by abundant natural resources and world-class engineering expertise. It estimates that by 2050, marine energy projects could generate over £8 billion in direct economic benefits for Scotland, while the global market could add a further £28 billion to the nation’s economy. The sector could also create up to 62,000 jobs within Scottish companies, including 15,000 in the UK and 46,000 internationally.
Suzanne Sosna, Director of Energy Transition for Scottish Enterprise, emphasised the urgency of acting now to secure these economic advantages. The report, commissioned by Scottish Enterprise and Wave Energy Scotland, consolidates previous research on tidal and wave energy potential. It underscores that by maintaining a leadership role in marine energy, Scotland can drive the expansion of offshore renewables both domestically and abroad.
Andrew Aveyard, Energy Sector Lead at Edinburgh Innovations, highlighted ongoing collaborations with industry leaders such as Orbital Marine Power, SAE Renewables, Nova Innovation, and Mocean Energy. Scotland’s cutting-edge facilities, including FastBlade for testing tidal turbine blades and FloWave for wave energy trials, are accelerating the development of wave and tidal technologies. With proven technology that operates efficiently at scale, the next step is scaling up manufacturing, reducing costs, and building a robust domestic supply chain for global export.
The report sets out key recommendations to sustain Scotland’s dominance in marine energy. These include increased investment in supply chains, enhanced support for marine energy firms, and further infrastructure development. Scotland’s expertise in device development, installation, and maintenance positions it as a frontrunner in the global marine energy race.
Beyond economic benefits, the study highlights the role of marine energy in achieving Scotland’s net zero targets and reinforcing the UK’s energy security. Professor Henry Jeffrey, Chair of Renewable Energy Technology and Policy Innovation, stressed that realising this potential requires decisive policy action, increased market incentives, and ongoing innovation support. A proactive strategy will be essential to secure Scotland’s place at the forefront of the marine energy revolution.
SAE Renewables Limited (LON:SAE) was founded in 2005 as a supplier of tidal stream turbines, SAE quickly grew to include development of tidal stream projects and is the majority owner of MeyGen, the world’s largest tidal stream energy project.
