Funding to take marine power devices to the next level of development has been announced by Climate Change Minister Greg Barker on a visit to Pelamis Wave Power at Leith Docks in Edinburgh.

Generating energy from the power of waves or tides has the potential to meet 15-20% of the UK's current electricity demand by 2050 as well as helping to reduce emissions to fight climate change.

Up to £20 million ($32 million) from the UK Department of Energy and Climate Change's budget of over £200 million ($320 million) to fund low carbon technologies, announced at the Spending Review, will help move forward the development of marine devices from the current large scale prototypes to bigger formations in the sea.

Image: Pelamis Wave Power Generator on transporter

Climate Change Minister Greg Barker said:

"Marine power has huge potential in the UK not just in contributing to a greener electricity supply and cutting emissions, but in supporting thousands of jobs in a sector worth a potential £15 billion to the economy to 2050."

"Britain can be a world leader as we have decades of expertise in offshore industries and the most advanced devices are already being developed here. Our geography gives us access to rich marine resources which act as a natural laboratory to test and run devices in realistic conditions, especially in Scotland and the South West where innovative work is already being carried out."

"The money we're announcing today will take marine power to the next stage of development in the UK and a step closer to being a real contender in the future energy market."

The scheme is expected to open in spring next year and, subject to a value for money assessment, will support two projects to test prototypes in array formations - the final development stage in generating large scale electricity from marine power prior to commercial roll out.

Images courtesy of Pelamis Wave Power

Links:

Department of Energy and Climate Change

Pelamis Wave Power