A Carbon Trust report published this year says marine energy has the potential to supply up to 20% of the UK’s energy needs but the costs are currently higher than for conventional and other alternative energy sources, reflecting the early stage of the technologies.

The Carbon Trust believes there is potential for costs to be reduced considerably, enabling marine energy to become competitive with other forms of generation. The MEA will help industry accelerate cost reduction by supporting the development of new marine industry device concepts that have potential for significantly lower costs than current front runner technologies.

It will fund R&D into specific component technologies of marine energy devices that are common causes of high costs. It will also support the development of low cost installation, operation and maintenance strategies for marine energy devices.The MEA project will involve device developers and component technology manufacturers working with engineering consultants, contractors and academic research groups.

Michael Rea, director of strategy at the Carbon Trust said, ‘We have previously highlighted the potential of marine energy to achieve both large carbon emissions reductions and economic benefits. Although marine energy is still at an early stage of development and significant challenges lie ahead, we believe it represents a strong option for the UK to pursue given the country’s large natural energy resources and skills in offshore oil/gas and shipping.

The UK currently has a lead in marine energy technology development and we want to enhance this position by focussing efforts on cost reduction, which is key to future commercial success.’The MEA project follows hot on the heels of another new venture, Partnership for Renewables (PfR), which will partner with private sector organisations to develop on site renewable energy projects with local authorities, hospitals and other public sector bodies. UK Environment Minister David Miliband announced a £10m fund for PfR last month.MJ Information No: 22301