If you use less than a third of marine resources viable renewable energy found in the British territorial waters in the North Sea, especially wind power, clean renewable energy sources could generate energy equivalent to the combustion of 1000 million barrels of oil per year until 2050.

The estimate comes from Offshore Valuation Report (Marine Assessment) prepared by the Valuation Offshore Group-a coalition of government organizations (central and regional) and industry, and is equivalent also to the combined production of existing oil and gas platforms in the North Sea.

The report was coordinated by the public research organization Public Interest Research Centre, which hired the Boston Consulting for analysis. The objective of this study was to broaden understanding the potential value of marine resources in the UK, both wind and wave.

“The results exceeded all expectations,” says the report. By exploiting 29% of viable resources until 2050, this technology, as well as producing the volume of energy mentioned above, also generate some 145,000 jobs. Also reduced by 1,100 million tonnes of CO2 emissions, 2010-2050.

Currently, the UK aims to reach 32 GW of installed marine power in 2020. However, “the next four decades of technological development may enable us to operate ten times the planned deployment,” according to report. This is achieved through increased deployment of offshore wind and tidal power and wave.

To get to exploit the potential, the United Kingdom should take a proactive role in European negotiations to establish a super marine network to evacuate the power produced by wind farms. In this way, the country could become a net exporter of electricity.

“This is an extremely exciting research that has incontestable evidence of the enormous potential of renewable resources of the UK seafarers,” said a statement from UK Renewables (previously known as British Wind Energy Association, BWEA).

The report investigates three scenarios: the most conservative poses a holding potential of 13%, the most ambitious raise that rate to 76%. In any case, the offshore wind is over 80% of the power provided.

Power % Investment Tax revenue potential
Scenario 1 ….. 78GW 13% 170MM pounds 28MM pounds
Scenario 2 ….. 169GW 29% 443 62
Scenario 3 ….. 406GW 76% 993 164

In scenario 1, the UK would cover 50% of its electricity demand. In scenario 2, it would be a net exporter of electricity. At number three, would become a net exporter of primary energy.

Offshore Valuation Group Members
1. The Department of Energy & Climate Change
2. The Scottish Government
3. The Welsh Assembly Government
4. The Crown Estate
5. Energy Technologies Institute
6. Scottish & Southern Energy
7. RWE Innogy
8. E. ON
9. DONG Energy
10. Statoil
11. Mainstream Renewable Power
12. Renewable Energy Systems (RES)
13. Vestas
14. Public Interest Research Centre

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