The Offshore Renewable Energy (ORE) Catapult and industry body RenewableUK, have launched an evidence-based assessment to show how marine renewables can meet UK government’s new technology tests.
The two bodies will examine how wave and tidal stream technologies can meet new ‘triple test’ set by the UK Government for innovative technologies to secure support.
The tests for determining support for new technologies include achieving maximum carbon reduction, showing a clear cost reduction pathway, and demonstrating that the UK can be a world-leader in a global market.
ORE Catapult will work with an industry steering group to produce an evidence-based objective report by the end of March 2018, which will be passed to the Department for Business, Energy and Industrial Strategy, as well as the Scottish and Welsh governments.
If the tests are passed, it is hoped that the study will pave the way for greater government support, including much-needed revenue support in the future, according to ORE Catapult.
Andrew Jamieson, ORE Catapult Chief Executive, said: “It’s essential that our emerging wave and tidal developers continue to enjoy investor confidence to allow them to be brought to full commercial scale, for the economic opportunity is immense.
“This program will work with the leading developers to set out a clear way ahead, illustrating the huge potential and ultimately driving new investment, employment, exports and growth across the country.”
RenewableUK said it is in the process of informing its member companies of the importance of the initiative, to ensure they provide the evidence needed to support ORE Catapult’s assessment.
Hugh McNeal, RenewableUK’s CEO, said: “The marine energy sector is focused on bringing down costs and we welcome the clear criteria set out by government for supporting new technologies. I’m encouraging all RenewableUK members and other firms in marine renewables to get involved in this work so that we can prove our innovative industries’ long-term potential to government.
“I’m confident our world-leading firms are up to this challenge and that the evidence-based assessment by ORE Catapult will bear this out.”