The global resource potential for marine renewable energy is vast, and as yet, largely untapped. Theoretical estimates indicate that harnessing the incredible power of the sea could provide a clean, low carbon, sustainable electricity source to meet the demands of the entire planet.
With some of the best marine resources in the world, Wales is playing a vital role in this emerging global sector. And the benefits for Wales go far beyond the provision of clean energy. With the right support in place, Wales has the opportunity to be a global leader in an export market worth an estimated £76 billion by 2050.
In January 2019, Marine Energy Wales carried out a survey of the marine energy industry in Wales. The aim of this survey was to understand the contribution of the marine energy industry to the Welsh economy and to update previous reports carried out in 2015 and 2017. This report summarises the findings of the survey and provides information on wave, tidal stream and tidal range energy projects currently under development in Wales.